[PDF] Dept Of Defense Financial Audits Highlight Continuing Challenges To Correct Serious Financial Management Problems 160246 Us Gao April 16 1998 eBook

Author : United States Accounting Office (GAO)
Publisher : Createspace Independent Publishing Platform
Page : 44 pages
File Size : 31,85 MB
Release : 2018-03-12
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ISBN : 9781984329387

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T-AIMD/NSIAD-98-158 Department of Defense: Financial Audits Highlight Continuing Challenges to Correct Serious Financial Management Problems

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Page : 0 pages
File Size : 29,48 MB
Release : 1998
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The audits of DOD'S and individual military services' financial statements for fiscal year 1997 performed by the DOD Inspector General (IG) and the service audit agencies, as well as our audit of the U.S. government's financial statements, have provided further clarification of the scope and magnitude of the Department's problems, and recommendations to correct them. These problems range from an inability to properly account for billions of dollars in assets, to not properly estimating the full extent of the government's liabilities, to not being able to accurately report disbursements and account for basic transactions. Collectively, these problems leave DOD highly vulnerable to the loss of assets and inefficient operations. I will focus my remarks today on the serious material weaknesses now confronting the Department, the resulting impact on DOD'S ability to effectively carry out its programs and operations, and the efforts underway to address these deficiencies.

Author : Office, U.s. Government Accountability
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Page : 34 pages
File Size : 27,44 MB
Release : 2017-08-16
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ISBN : 9781974621668

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"As one of the largest and most complex organizations in the world, the Department of Defense (DOD) faces many challenges in resolving its pervasive and long-standing financial management and related business operations and systems problems. DOD is required by various statutes to (1) improve its financial management processes, controls, and systems to ensure that complete, reliable, consistent, and timely information is prepared and responsive to the financial information needs of agency management and oversight bodies, and (2) produce audited financial statements.DOD has initiated numerous efforts over the years to improve the department's financial management operations and ultimately achieve unqualified (clean) opinions on the reliability of reported financial information.The Subcommittee has asked GAO to provide its perspective on DOD's current efforts to address its financial management weaknesses and achieve auditability, including the status of its Enterprise Resource Planning (ERP) system implementations.GAO's testimony is based on its prior work related to DOD's financial improvement and audit readiness strategy and related activities, including its ERP implementation..."