Financial Reporting of Government Property in the Custody of Contractors

Abstract

The overall audit objective was to determine whether account balances for Government property in the custody of contractors were complete, accurate, and included in the financial statements of the Military Departments and Defense agencies. We also assessed management controls affecting the financial reporting of Government property, and we assessed compliance with applicable laws and regulations. This report addresses the use of the Contract Property Management System for financial reporting of Government property. Issuance of this report does not complete our announced audit objectives. We will issue a separate report on Government property reporting by Defense agencies, and a consolidated report that will include the results of work done by all Military Department audit agencies participating in the audit.

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Document Details

Document Type
Technical Report
Publication Date
Aug 04, 1997
Accession Number
ADA369062

Entities

Organizations

  • Office of the Inspector General, U.S. Department of Defense

Tags

Communities of Interest

  • Human Systems
  • Weapons Technologies

DTIC Thesaurus Topics

  • Accounting
  • Acquisition
  • Air Force
  • Aircrafts
  • Commerce
  • Contract Administration
  • Contractors
  • Contracts
  • Control Systems
  • Department Of Defense
  • Financial Management
  • Governments
  • Inventory
  • Logistics
  • Military Equipment
  • National Security
  • Navy

Fields of Study

  • Business

Readers

  • Defense Financial Management and Audit.