Department of Defense: Financial Audits Highlight Continuing Challenges to Correct Serious Financial Management Problems

Abstract

The audits of DOD'S and individual military services' financial statements for fiscal year 1997 performed by the DOD Inspector General (IG) and the service audit agencies, as well as our audit of the U.S. government's financial statements, have provided further clarification of the scope and magnitude of the Department's problems, and recommendations to correct them. These problems range from an inability to properly account for billions of dollars in assets, to not properly estimating the full extent of the government's liabilities, to not being able to accurately report disbursements and account for basic transactions. Collectively, these problems leave DOD highly vulnerable to the loss of assets and inefficient operations. I will focus my remarks today on the serious material weaknesses now confronting the Department, the resulting impact on DOD'S ability to effectively carry out its programs and operations, and the efforts underway to address these deficiencies.

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Document Details

Document Type
Technical Report
Publication Date
Apr 16, 1998
Accession Number
ADA342510

Entities

People

  • Eugene Louis Dodaro

Organizations

  • United States Government Accountability Office

Tags

Communities of Interest

  • Biomedical
  • Ground and Sea Platforms
  • Human Systems
  • Weapons Technologies

DTIC Thesaurus Topics

  • Aircraft Carriers
  • Ammunition
  • Boats
  • Department Of Defense
  • Environmental Restoration And Remediation
  • Financial Management
  • Health Care
  • Launchers
  • Law
  • Logistics
  • Management Personnel
  • Military Equipment
  • Military Training
  • Money
  • National Governments
  • Navy
  • United States Government

Readers

  • Defense Financial Management and Audit.
  • Systems Analysis and Design