GAO critical of IRS's cost accounting compliance.

• Position: National

Congressional auditors censured the IRS for its slow implementation of federal accounting rules requiring government agencies to implement effective management reporting for cost information.

In a report to Congress, GAO investigators concluded that the federal government is doing a mediocre job in complying with government accounting standards that call for the development and execution of managerial cost accounting.

While some agencies were praised for showing leadership in the development of cost accounting systems, others were criticized for falling behind, particularly the IRS.

Government agencies that implement managerial cost accounting...