Financial Management: Further Actions Are Needed to Establish Framework to Guide Audit Opinion and Business Management Improvement Efforts at DOD

Abstract

As the Comptroller General recently testified and as discussed in our latest financial audit report, the Department of Defenses (DOD) financial management deficiencies, taken together, continue to represent the single largest obstacle to achieving an unqualified opinion on the U.S. governments consolidated financial statements. For example, to date, none of the military services has passed the test of an independent financial audit because of pervasive weaknesses in internal control, processes, and fundamentally flawed business systems.

Open PDF

Document Details

Document Type
Technical Report
Publication Date
Sep 20, 2004
Accession Number
AD1152985

Entities

People

  • Gregory D. Kutz

Organizations

  • United States Government Accountability Office

Tags

Communities of Interest

  • Biomedical

DTIC Thesaurus Topics

  • Accountability
  • Accounting
  • Air Force
  • Business Administration
  • Commerce
  • Comptrollers
  • Contractors
  • Cost Effectiveness
  • Costs
  • Databases
  • Deficiencies
  • Department Of Defense
  • Finance
  • Financial Management
  • Governments
  • Inventory
  • Money

Fields of Study

  • Business

Readers

  • Defense Acquisition Program Management
  • Defense Financial Management and Audit.
  • Government and Public Administration Law.