Financial Management: Challenges Facing DOD in Meeting the Goals of the Chief Financial Officers Act

Abstract

Achieving the reforms required by the CFO Act is essential because DOD needs accurate financial information and appropriate internal controls to effectively manage the Departments vast resourcesover $1 trillion in assets, 3 million military and civilian personnel, and a budget of over$250 billion for fiscal year 1995. Unfortunately, the Department does not yet have adequate financial management processes in place to produce the information it needs to support its decision-making process. No military service or other major DOD component has been able to withstand the scrutiny of an independent financial statement audit.

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Document Details

Document Type
Technical Report
Publication Date
Nov 14, 1995
Accession Number
AD1168210

Entities

People

  • Eugene Louis Dodaro

Organizations

  • United States Government Accountability Office

Tags

Communities of Interest

  • Ground and Sea Platforms
  • Human Systems
  • Weapons Technologies

DTIC Thesaurus Topics

  • Air Force
  • Business Administration
  • Civilian Personnel
  • Commerce
  • Contractors
  • Department Of Defense
  • Engineering
  • Finance
  • Financial Management
  • Governments
  • Information Systems
  • Law
  • Management Personnel
  • Organizational Structure
  • Personnel Management
  • Procurement
  • Software Development
  • Standards
  • Training
  • United States

Readers

  • Defense Acquisition Program Management
  • Defense Financial Management and Audit.