DoD Financial Management: Improvements Needed in the Navy's Audit Readiness Efforts for Fund Balance with Treasury

Abstract

The National Defense Authorization Act for Fiscal Year 2014 mandates an audit of DODs fiscal year 2018 departmentwide financial statements. To help achieve this, the DOD Comptroller issued the FIAR Guidance to provide a standard methodology for DOD components to follow to improve financial management and achieve audit readiness, and designated the SBR as an audit priority. Full implementation of the Navys General Fund FIP for FBWT is essential to achieving audit readiness for its General Fund SBR. The Navy asserted Statement of Budgetary Activity (SBA)audit readiness as of September 30, 2014, and in February2016 received a disclaimer of opinion on the audit of its SBA for fiscal year 2015.

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Document Details

Document Type
Technical Report
Publication Date
Aug 01, 2016
Accession Number
AD1168207

Entities

People

  • Asif A. Khan

Organizations

  • United States Government Accountability Office

Tags

Communities of Interest

  • Human Systems

DTIC Thesaurus Topics

  • Accountability
  • Accounting
  • Auditing
  • Business Administration
  • Congress
  • Contracts
  • Department Of Defense
  • Finance
  • Financial Management
  • Governments
  • Information Systems
  • Law
  • Marine Corps
  • Money
  • National Governments
  • National Security
  • Standards
  • Statistical Sampling
  • Systems Management
  • Test And Evaluation
  • United States Government

Readers

  • Defense Financial Management and Audit.