- Value [1] Accountability
- Accounting and financial reporting standards are essential for public accountability and for an efficient and effective functioning
of our democratic system of government. Thus federal accounting standards and financial reporting play a major role in fulfilling
the government’s duty to be publicly accountable and can be used to (1) assess the government’s accountability and its efficiency
and effectiveness, and (2) contribute to the understanding of the economic, political, and social consequences of the allocation
and various uses of federal resources.
- Value [2] Efficiency
- Value [3] Effectiveness
- Value [4] Democratic System of Government
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