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FASAB Statement 56: Understanding New Government Financial Accounting Loopholes by Solari Staff

Financial accountability for the government is a cornerstone of a functioning representative democracy. The ability for the people to know where taxpayer money goes to is crucial to having an informed opinion regarding the actions of your representatives and to react accordingly. Unfortunately, as we’ve discussed in previous articles, the current state of government accounting is far from ideal–often bordering on useless to the public. This is largely due to lax enforcement of existing laws such as the Chief Financial Officers (CFO) Act, but also stems from the very real tension between completely transparent government financial disclosure and national security interests.
https://constitution.solari.com/fasab-statement-56-understanding-new-government-financial-accounting-loopholes

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