Defense Business Operations Fund Adjustments at the Defense Finance and Accounting Service Denver Center.
Abstract
We reviewed documentation of adjustments made by the Defense Finance and Accounting Service (DFAS) Denver Center in preparing financial statements during our audit of the revenue accounts in the FY 1996 Defense Business Operations Fund (DBOF) financial statements. The overall revenue accounts audit objective was to determine whether revenues reported on the FY 1996 DBOF consolidated financial statements were presented fairly in accordance with the "other comprehensive basis of accounting" described in Office of Management and Budget Bulletin No. 94-01, "Form and Content of Agency Financial Statements," November 16, 1993. For this part of the audit, we reviewed documentation of adjustments to the accounting records at the DFAS Denver Center from which the financial statements were prepared. We did not evaluate the adjustments for validity. In addition, we assessed internal controls and compliance with laws and regulations as applicable to the overall audit objective. The DFAS Denver Center did not have adequate supporting documentation, in accordance with DoD 7000. 14-R, "DoD Financial Management Regulation," for 111 adjustments totaling $217.5 billion made to the Air Force, U.S. Transportation Command, and Joint Logistics Systems Center FY 1996 DBOF account balances. The last nine adjustments without supporting documentation brought the Air Force DBOF Results of Operations from a loss of $11 billion to a gain of $2.2 billion,
Document Details
- Document Type
- Technical Report
- Publication Date
- Jan 20, 1998
- Accession Number
- ADA368249
Entities
Organizations
- Office of the Inspector General, U.S. Department of Defense