Federal Managers Accountability Act of 1980

Federal Managers' Accountability Act of 1980 - Amends the Accounting and Auditing Act of 1950 to require the head of each executive agency to prepare, sign, and transmit to the President an annual report on the adequacy of the agency's systems of internal auditing and administrative control.

Directs the Comptroller General of the United States, in consultation with the Director of the Office of Management and Budget (OMB), to establish a method of reporting and guidelines for the agencies in evaluating their systems of internal accounting and administrative control, and to modify such method or guidelines as necessary.

Requires each agency to establish internal accounting and administrative controls, in accordance with standards prescribed by the Comptroller General, which provide assurances that: (1) obligations and costs comply with applicable law; (2) funds, property, and other assets are protected against waste, loss, unauthorized use, or misappropriation; and (3) agency revenues and expenditures are properly accounted for and recorded. Directs an agency to identify any inadequacy in the agency's systems which prevent the systems from achieving such assurances, and to describe in detail plans for correcting any such inadequacy.

Requires the Inspector General or the head of the internal audit staff of each agency to receive and investigate any allegation that an agency employee provided false or misleading information in connection with an evaluation or report concerning the agency's accounting or control systems. Directs the head of an agency to take action against such an employee as necessary.

Amends the Budget and Accounting Act of 1921 to require the President to include in the information transmitted to Congress with the annual budget a statement on: (1) the original amount of appropriations requested by the Office of Inspector General of each agency; and (2) the changes made in such request prior to submission to the Director of OMB and Congress. Requires the head of each agency to certify that requests for appropriations are based on an accounting system that has been approved by the Comptroller General.