Compilation Process for the DOD Consolidated Financial Statements for FY 1997.
Abstract
The Federal Financial Management Act of 1994 requires the Secretary of the Treasury, in coordination with the Director of the Office of Management and Budget, to prepare Government-wide financial statements beginning in FY 1997. Office of Management and Budget and DoD Guidance on Form and Content of Audited Financial Statements requires that amounts reported in the footnotes be consistent with amounts reported as line items of the principal financial statements. In addition, financial information reported in multiple footnotes should be reported consistently throughout the financial statements. The Statement of Financial Position reported total assets of$l.33 trillion and total liabilities of $949 billion for FY 1997. On February 27, 1998 we issued a disclaimer of opinion on the DoD Consolidated Financial Statements for FY 1997. We issued our reports on internal controls and compliance with laws and regulations on June 22, 1998. The overall audit objective was to determine whether the DoD Consolidated Financial Statements for FY 1997 were presented fairly in accordance with Office of Management and Budget Bulletin No. 94-01, "Form and Content of Agency Financial Statements," November 16, 1993, as supplemented by Office of Management and Budget Bulletin No. 97-01, "Form and Content of Agency Financial Statements," October 16, 1996.
Document Details
- Document Type
- Technical Report
- Publication Date
- Sep 24, 1998
- Accession Number
- ADA367850
Entities
Organizations
- Office of the Inspector General, U.S. Department of Defense