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Federal Managers' Financial Integrity Act of 1982 (FMFIA), Pub. L. No. 97-255, 96 Stat. 814 (Sept. 8, 1982), codified at 31 U.S.C. §1352 (full-text).
The Act requires Federal agencies, on an ongoing basis, to evaluate the ability of their internal control systems to protect federal programs against fraud, waste, abuse, and mismanagement. They must report annually to the President and Congress on the effectiveness of internal controls and any identified material weaknesses in those controls. Federal agencies are required
Per the Office of Management and Budget, for the purposes of FMFIA reporting, a material weakness also encompasses weaknesses found in program operations and compliance with applicable laws and regulations. Material weaknesses for FMFIA reporting are determined by management, whereas material weaknesses reported as part of a financial statement audit are determined by independent auditors.