Under Secretary of Defense (Comptroller)

Deputy Chief Financial Officer

Organization of the
Under Secretary of
Defense (Comptroller)

   The Secretary of the Treasury, the Director of the Office of Management and Budget (OMB), and the Comptroller General of the United States established the Federal Accounting Standards Advisory Board (the FASAB or "the Board") in October 1990 to consider and recommend accounting principles for the United States Government.

   The Board communicates its recommendations by publishing recommended accounting standards after considering the financial and budgetary information needs of the Congress, executive branch agencies, and other users of federal financial information. The Board also considers comments from the public on its proposed recommendations, which are published for comment as "exposure drafts." The Board's sponsors, i.e., the officials who established the Board, then decide whether to adopt the recommendations. If they do, the standard is published by the OMB and the General Accounting Office (GAO) as a Statement of Federal Financial Accounting Standard (SFFAS), and then becomes effective.

   For more information about the FASAB and SFFASs, please click here.