Certified Government Financial Manager (CGFM) Practice Exam 2026 - Free CGFM Practice Questions and Study Guide

The primary users of federal financial reports are citizens and Congress because these groups have a vested interest in understanding how government financial resources are being managed and allocated. Citizens rely on these reports to ensure transparency and accountability in government spending, which is crucial for informed public participation and trust in governmental operations. Congress, as the legislative body responsible for oversight and funding decisions, uses this financial information to assess the financial health of federal programs, evaluate the effectiveness of expenditures, and make decisions regarding budgets and policies.

While academics, analysts, media, public interest groups, lobbyists, and contractors may also utilize federal financial reports for their own purposes, such as research, reporting, or advocacy, the primary focus and responsibility lie with the citizens and Congress, as they are directly involved in governance and public oversight. This makes them the principal stakeholders in the context of federal financial reporting.