Financial Management
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House Homeland Security Committee lawmakers tell DHS its fourth attempt to modernize financial systems has to be better.
September 27, 2017 -
The Pentagon's new comptroller says the department will meet it statutory deadline to become "audit ready" by the start of Fiscal 2018. But there's little chance DoD will pass an audit in its first year.
June 20, 2017 -
Governance, risk and compliance. Sounds like the dry stuff of corporate and agency process. But in fact it's a crucial set of activities that lead to better financial management and program accountability. Federal Drive with Tom Temin asked Dan Zitting, chief product officer for ACL and a former auditor with Ernst and Young, about the trends in public sector GRC.
April 20, 2017 -
The Commerce Department built a business case detailing how it would centralize all back-office functions — human resources, financial management, technology and procurement — over a three-year period.
April 10, 2017 -
The Treasury Department has developed a financial management maturity model to help agencies understand mission value of the CFO’s office.
February 21, 2017 -
GAO found significant problems in the military’s ability to track its own weaknesses both at the level of the individual military services and at the level of the Pentagon’s comptroller.
February 14, 2017 -
While the federal government as a whole has made major progress toward getting its books in audit-ready condition over the past two decades, the Defense Department remains the single biggest impediment, the Government Accountability Office said last week in its annual report on the federal government’s financial statements.
January 24, 2017 -
The Defense Department has spent well over a decade and tens of billions of dollars to buy enterprise resource planning (ERP) systems with the hope that they would help the military adopt modern, automated business processes and pave the way to financial auditability. But a strikingly small number of DoD financial managers think the systems have done anything to make their jobs easier.
January 20, 2017 -
The Government Accountability Office issued its 2016 report on federal financial management and once again can’t offer an opinion because of incomplete data from DoD, HUD and NSF.
January 13, 2017 -
When it comes to financial management, it didn't take the relatively new Consumer Financial Protection Bureau to get off track. The Government Accountability Office found the bureau has significant deficiencies in its internal controls. It has trouble accounting for its property, including software licensing. For the latest, Federal Drive with Tom Temin turns to Larry Malenich, director of financial management and assurance issues at the GAO.
July 01, 2016 -
The Labor Department hired Booz Allen Hamilton under a $74.2 million contract to manage its financial management system while it prepares to move to a federal shared service provider in 2019.
June 21, 2016 -
The Defense Department has spent the last seven years getting itself ready for its first-ever financial audit. But the congressionally-mandated timeline for DoD to become “audit ready” means a new administration will have taken office before the final test.
June 16, 2016 -
Mike Hettinger, president and managing principal of the Hettinger Strategy Group LLC, argues for OMB to change its approach to modernizing financial management systems.
March 01, 2016 -
Reported improper payments are likely to increase as agencies improve their ability to ferret out overpayments and underpayments
February 25, 2016 -
New data from the administration shows 13 milestones for administrative shared services, including seven for human resources, in 2016.
February 08, 2016