FINANCIAL MANAGEMENT: DOD Needs to Implement Comprehensive Plans to Improve Its Systems Environment
Abstract
DOD financial management has been on GAOs High Risk List since 1995 because of long-standing deficiencies found in, among other areas, its supporting information systems. DOD uses these systems to report its spending and assets. GAO was requested to review DODs financial management systems. The objectives of this review are to determine (1) to what extent the data produced by DOD financial management systems are reported to be reliable for presenting financial statements in accordance with generally accepted accounting principles, (2) to what extent DOD and the military departments have strategies and plans to address key information technology controls for their financial systems, and (3) how much money DOD reports spending on developing and maintaining its financial management systems. To address these objectives, GAO analyzed (1) independent public auditors findings resulting from the departments fiscal year 2019 audit; (2) DODs financial management systems strategy and plans relative to OMB guidance and recent legislation; (3) data in DOD system and budget databases. GAO also interviewed relevant DOD and military service officials.
Document Details
- Document Type
- Technical Report
- Publication Date
- Sep 01, 2020
- Accession Number
- AD1131129
Entities
People
- Asif Khan
- Kevin Walsh
Organizations
- United States Government Accountability Office