(a) full disclosure of the financial results of the governments activities;

(b) adequate financial information needed for the governments management purposes;

(c) effective control over and accountability for all funds, property, and other assets for which the government is responsible, including appropriate internal audit; and

(d) reliable accounting results to serve as the basis for preparation and support of the governments request for the approval of the President or his designated representative for the obligation and expenditure of the internal revenue collections as provided in section 26, the Governors budget request to the legislature, and for controlling the execution of the said budget.