Accession Number:

ADA555763

Title:

Independent Auditor's Report on the Attestation of the Existence, Completeness, and Rights of the Department of the Navy's Ships and Submarines, Trident Missiles, and Satellites

Descriptive Note:

Audit rept.

Corporate Author:

DEPARTMENT OF DEFENSE ALEXANDRIA VA OFFICE OF THE INSPECTOR GENERAL

Personal Author(s):

Report Date:

2012-01-19

Pagination or Media Count:

11.0

Abstract:

We reviewed managements assertion of audit readiness for the existence, completeness, and rights of the Department of the Navys Navys mission-critical assets ships and submarines, aircraft, Trident missiles, satellites, and ordnance as of September 30, 2010. As a result of our review of Navys assertion, we performed an attestation of the existence, completeness, and rights of the Navys ships and submarines, Trident missiles, and satellites as of March 31, 2011. Aircraft and ordnance were excluded from this examination. Navy management is responsible for its assertion of audit readiness. Our responsibility is to express an opinion on the assertion based on our examination. In our opinion, the Navys assertion of audit readiness for the existence, completeness, and rights of its ships and submarines, Trident missiles, and satellites as of March 31, 2011, is fairly stated in all material respects. Internal controls are important for safeguarding assets. Management designs internal controls to provide reasonable assurance that unauthorized acquisition, use, or disposition of assets will be prevented or detected and corrected in a timely manner. During our examination, we identified several internal control issues. These internal control issues did not preclude us from reaching an opinion regarding Navys assertion. However, management should take additional action to improve the internal controls to ensure the sustainability of its processes in accounting for the existence, completeness, and rights of its ships and submarines, Trident missiles, and satellites. These internal control issues are discussed in this report.

Subject Categories:

  • Administration and Management
  • Marine Engineering
  • Military Forces and Organizations
  • Underwater-Launched Guided Missiles
  • Unmanned Spacecraft

Distribution Statement:

APPROVED FOR PUBLIC RELEASE