Accession Number:

ADA512880

Title:

Summary of DOD Office of the Inspector General Audits of Financial Management

Descriptive Note:

Audit rept.

Corporate Author:

INSPECTOR GENERAL DEPT OF DEFENSE ARLINGTON VA

Personal Author(s):

Report Date:

2009-10-19

Pagination or Media Count:

52.0

Abstract:

Our overall objective was to summarize the DoD Office of Inspector General reports that discussed deficiencies in financial management within DoD. Specifically, we reviewed and summarized the financial management-related audit reports that the DoD Office of Inspector General issued from FY 2004 through FY 2008. These reports discussed issues related to the Government Accountability Office high-risk area of financial management. This summary could be used by DoD financial managers to monitor areas that require enhanced internal control and financial management improvements, and stress the importance of obtaining sustainable results. The DoD Office of the Inspector General issued 255 reports during FY 2004 through FY 2008 that pertain to financial management. As part of our audit of the FY 2008 DoD Agency-wide financial statements, DoD management acknowledged that 13 previously identified material weaknesses continued to exist. Therefore, we grouped the deficiencies discussed in the reports by the 13 material weaknesses as follows 1. Financial Management Systems, 2. Fund Balance with Treasury, 3. Accounts Receivable, 4. Inventory, 5. Operating Materials and Supplies, 6. General Property, Plant, and Equipment, 7. Government-Furnished Material and Contractor-Acquired Material, 8. Accounts Payable, 9. Environmental Liabilities, 10. Statement of Net Costs, 11. Intragovernmental Eliminations, 12. Other Accounting Entries, and 13. Reconciliation of Net Cost of Operations to Budget. In addition to the 13 material weaknesses, we reported on 3 other issue areas as follows 1. Inadequate Audit Trails, 2. Internal Controls, and 3. Compliance With Laws and Regulations.

Subject Categories:

  • Administration and Management
  • Economics and Cost Analysis
  • Military Forces and Organizations

Distribution Statement:

APPROVED FOR PUBLIC RELEASE