Financial Management: DoD Recovery Audit Program
Abstract
DoD financial managers and contracting officials responsible for identifying and reducing erroneous payments should read this report. It discusses efforts and methods for using recovery audits to identify and collect overpayments. Recovery auditing is a function of management, and the Office of Management and Budget (0MB) does not consider it auditing in the traditional sense. Recovery auditors generally use proprietary software to review and analyze a company's books, supporting documents, and other available information to identify duplicate or errogeous payments to vendors. Recovery auditing has become standard practice in the private sector over the last 20 years. Section 831 of the FY 2002 National Defense Authorization Act (Public Law 107-107) requires all Federal agencies with annual payments to contractors exceeding 8500 million to implement a cost-effective recovery audit program. Congress delegated implementation of this law to 0MB. 0MB requires Federal agencies to report results of their recovery audit programs in annual Performance and Accountability Reports.
Document Details
- Document Type
- Technical Report
- Publication Date
- Aug 17, 2005
- Accession Number
- ADA437282
Entities
People
- Ann Thompson
- Benjamin M. Howison
- Curt W. Malthouse
- James L. Kornides
- John R. Williams
- Meredith H. Johnson
- Paul J. Granetto
Organizations
- Office of the Inspector General, U.S. Department of Defense