United States

Financial Management Advisory Committees for Federal Agencies - Suggested Practices Handbook 2013 Version

Sep 30, 2013
From the Government Institute

This KPMG handbook is intended to serve as a resource and reference for the federal financial management community in support of their efforts to fully realize the benefits of financial management advisory committees.

Fundamental to the approaches outlined in this handbook is the recognition that, just as the quality and performance of financial management varies among federal agencies, the scope of the financial management advisory committees should be tailored to best serve agency needs.

The handbook recommends possible practices for several key stages in the process, including:

  • Establishing a financial management advisory committee
  • Identifying, selecting and orienting committee members
  • Relating with other agency officials
  • Organizing and operating the committee
  • Conducting meetings
  • Reporting results
  • Evaluating and improving a committee's performance

This handbook is based on leading practices and draws on a range of sources and knowledge that KPMG has gained as the leading financial statements auditor of federal cabinet-level agencies for the past decade. KPMG has also played a prominent role in serving on, and working with, federal agency audit and financial management advisory committees, and in advising federal agencies on a wide spectrum of financial management issues.