DOD Financial Management: Challenges in Attaining Audit Readiness and Improving Business Processes and Systems
Abstract
Over the years, the Department of Defense (DOD) has initiated several efforts intended to improve its financial management operations and ultimately achieve an unqualified (clean) opinion on its financial statements. These efforts have fallen short of sustained improvement in financial management and financial statement auditability. In this statement, GAO provides its assessment of DOD s progress toward: (1) producing an auditable Statement of Budgetary Resources (SBR) by fiscal year 2014 and a complete set of auditable financial statements by fiscal year 2017, including the development of interim milestones for both aforementioned audit readiness goals; (2) acquiring and implementing new enterprise resource programs and other critical financial management systems; (3) reengineering business processes and instituting needed controls; and (4) implementing a comprehensive business enterprise architecture and transition plan, and improved investment control processes.
Document Details
- Document Type
- Technical Report
- Publication Date
- Apr 18, 2012
- Accession Number
- ADA561118
Entities
People
- Asif A. Khan
- Chris Yfantis
- Cindy B. Barnes
- Kristi Karls
- Mark Bird
- Maxine Hattery.
- Michael Holland
- Valerie Melvin
Organizations
- United States Government Accountability Office