Improvements Needed in Financial Management Systems To Enhance Medicare Financial Reporting

EXECUTIVE SUMMARY:

This final audit report points out that the Health Care Financing Administration (HCFA) has made improvements to its financial reporting by incorporating accrual financial data into its general ledger. However, HCFA's financial management systems still do not adequately support the amounts contained in Medicare financial reports. Recommendations call for improvements that will allow HCFA's financial management systems to meet the requirements of the Chief Financial Officers Act of 1990 and Office of Management and Budget requirements.

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