Internal Controls and Compliance with Laws and Regulations for the FY 1997 Financial Statements of Other Defense Organizations
Abstract
We performed the audit in response to the Chief Financial Officers Act of 1990, as amended by the Federal Financial Management Act of 1994, which requires DoD and other Government agencies to prepare consolidated financial statements for FY 1996 and each succeeding year. The DoD Consolidated Financial Statements for FY 1997 include financial statements for a reporting entity entitled "Other Defense Organizations." This entity represents a consolidation of financial information from various Defense organizations and funds that use the Treasury Index 97 (Department 97) symbol, including the Military Departments. During FY 1997, the 44 Defense organizations and funds included in Other Defense Organizations received $39.1 billion in direct appropriations, and their financial statements showed total assets of $46.5 billion and liabilities of $222.2 billion. The overall audit objective was to assess internal controls and compliance with laws and regulations used to compile the FY 1997 Financial Statements of Other Defense Organizations. In a subsequent audit report, we will evaluate the process used to compile, adjustment, and prepare footnotes to the financial statements.
Document Details
- Document Type
- Technical Report
- Publication Date
- Jul 13, 1998
- Accession Number
- ADA367878
Entities
Organizations
- Office of the Inspector General, U.S. Department of Defense