Washington (Dec. 29, 2003) -- The Internal Revenue Service’s acting chief financial officer Eileen Powell is now the tax agency’s official CFO.

The IRS’ CFO is responsible for the custodial accounting of $2 trillion in taxpayer receipts and the agency’s $10 billion annual operating budget. In addition, the CFO serves as the principal advisor to the IRS commissioner on financial management, financial systems, strategic planning, performance measurement, budget formulation, budget execution and internal controls.

Powell served as deputy CFO from September 2001 until June 2003, when then-CFO Todd Grams was appointed the tax agency’s CIO. The IRS has not announced a new deputy CFO.

She joined the IRS in July 2001 as director of administrative accounting. In this role, she led the development and management of the agency’s financial policies, procedures, and systems, as well as the accounting and reporting for the IRS operating budget.

Before coming to the IRS, Powell was the project director responsible for implementing the Department of Veterans Affairs’ new nationwide core accounting and logistics system.

Powell has 32 years of technical and managerial experience in the fields of accounting, budgeting, auditing, disbursing and planning.

-- WebCPA staff

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