Guidance issued by the General Accounting Office with an abstract that begins "This publication supersedes GAO-01-238G, Grant Financial System Requirements: Checklist for Reviewing Systems Under the Federal Financial Management Improvement Act, January 2001. The Federal Financial Management Improvement Act (FFMIA) of 1996 requires that agencies implement and maintain financial management systems that substantially comply with federal financial management systems requirements. The Joint Financial Management Improvement Program (JFMIP) seeks to promote understanding of key financial management systems concepts and requirements, to provide a framework for establishing integrated financial management systems to support program and financial managers, and to describe specific requirements of financial management systems. This checklist reflects JFMIP's first functional requirements document issued for grant financial systems to assist (1) agencies in implementing and monitoring agency grant financial systems and (2) managers and auditors in reviewing their grant financial systems to determine if they substantially comply with FFMIA. This checklist is not required to be used in assessing grant financial systems. Rather, it is provided as a tool for use by experienced staff and is one in a series of documents GAO has issued to help agencies improve or maintain effective operations."