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Is DOD on the Right Path to Financial Auditability?

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  • Title:
    Is DOD on the Right Path to Financial Auditability?
  • Author: Zellars, Eric F
  • Subjects: ACCOUNTABILITY ; ACCURACY ; Administration and Management ; AUDIT READINESS ; AUDITING ; BUSINESS PROCESS REENGINEERING ; DEAMS(DEFENSE ENTERPRISE ACCOUNTING AND MANAGEMENT SYSTEM) ; DEPARTMENT OF DEFENSE ; Economics and Cost Analysis ; ERP(ENTERPRISE RESOURCE PLANNING) ; FINANCIAL AUDITABILITY ; FINANCIAL MANAGEMENT ; GFEBS(GENERAL FUND ENTERPRISE BUSINESS SYSTEM) ; HISTORY ; LEGISLATION ; Military Forces and Organizations ; ORGANIZATIONAL REALIGNMENT ; PREPARATION ; RELIABILITY ; TIMELINESS ; UNQUALIFIED AUDIT OPINION
  • Description: To make every dollar count, the Department of Defense (DoD) must be able to account for every dollar. The ability to achieve an unqualified audit opinion has eluded the Department since its inception, but now this goal may be within reach. DoD has a responsibility to account for taxpayers' dollars and produce timely, reliable, and accurate financial information that informs financial decisions made by political and military leaders. Several congressional representatives summed up the importance of an unqualified audit opinion by asserting that DoD has an obligation to get its fiscal house in order. In addition, these congressional representatives suggest that an unqualified financial audit opinion assures taxpayers of DoD's commitment to spend their money wisely. As national security debates focus on weapon systems, digital warfare, non-conventional threats, hybrid threats, and the size and shape of our force, leaders are emphasizing the importance of financial management and audit readiness. Over the past 8 years, the Department has worked hard to achieve its auditability goals: it created the appropriate organizational structure for oversight and readiness; it focused on reengineering legacy business processes; and it leveraged the most advanced system technology available -- Enterprise Resource Planning (ERP) systems. Achieving an unqualified audit opinion will not be easy, but the Department is on the right path to accomplishing this goal by 2017. This SRP defines auditability, discusses the importance of achieving an unqualified audit opinion, and examines why achieving an unqualified audit is difficult for DoD. Then it surveys DoD's history of financial management improvement efforts, cites Congressional legislation mandating financial reform, and examines DoD's current efforts to achieve an unqualified audit opinion. It concludes with recommendations for DoD to continue its momentum beyond getting an unqualified audit opinion. Strategy Research Project.
  • Creation Date: 2012
  • Language: English
  • Source: DTIC Technical Reports
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