This report provides an overview of efforts undertaken by the U.S. General Accounting Office (GAO) in 1990 to review and report on federal program areas its work identified as high risk because of vulnerabilities to waste, fraud, abuse, and mismanagement. It reviews the current status of efforts to address these concerns. The six categories of high-risk focus include: (1) providing accountability and cost-effective management of defense programs; (2) ensuring all revenues are collected and accounted for; (3) obtaining an adequate return on multibillion dollar investments in information technology; (4) controlling fraud, waste, and abuse in benefit programs; (5) minimizing loan program losses; and (6) improving management of federal contracts at civilian agencies. New high-risk areas are also discussed, including defense infrastructure, information security, the year 2000 problem in regard to computer software, Supplemental Security Income, and the 2000 decennial census. Also included are a list of key contacts for the newly designated high-risk areas and a list of 1997 High-Risk Series publications. (MDM)