DoD Financial Management: Continued Efforts Needed to Correct Material Weaknesses Identified in Financial Statement Audits

Abstract

Why GAO Did This Study. DOD is responsible for about half of the federal government's discretionary spending, yet it remains the only major federal agency that has been unable to receive a clean audit opinion on its financial statements. After years of working toward financial statement audit readiness, DOD underwent full financial statement audits in fiscal years 2018and 2019. This report, developed in connection with fulfilling GAO's mandate to audit the U.S. governments consolidated financial statements, examines the (1) actions taken by DOD and the military services to prioritize financial statement audit findings; (2) extent to which DOD and its components developed CAPs to address audit findings in accordance with OMB, DOD, and other guidance; and (3) extent to which DOD improved its ability to monitor and report on audit remediation efforts.

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Document Details

Document Type
Technical Report
Publication Date
Oct 01, 2020
Accession Number
AD1136614

Entities

People

  • Anthony Clark
  • Arkelga Braxton
  • Asif A. Khan
  • Brian Paige
  • Doris Yanger
  • Edward Romesburg
  • Jason D Kelly
  • Khristi Wilkins
  • Kristi Karls
  • Sarah Lisk
  • Sharon Byrd
  • Tulsi Bhojwani

Organizations

  • United States Government Accountability Office

Tags

Communities of Interest

  • Human Systems

DTIC Thesaurus Topics

  • Accountability
  • Accuracy
  • Air Force
  • Best Practices
  • Business Administration
  • Congress
  • Control Systems
  • Department Of Defense
  • Financial Management
  • Governments
  • Information Systems
  • Inventory
  • National Governments
  • National Security
  • Risk
  • Standards
  • United States Government

Fields of Study

  • Business

Readers

  • Defense Financial Management and Audit.
  • Government Contracting/Procurement.