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Audit readiness
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The Government Accountability Office has concluded that an audit of the Marine Corps’ 2012 financial statements - previously issued by the Defense Department’s inspector general - was riddled with problems, including missteps by the DoD IG itself.
August 05, 2015 -
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The Defense Department's inspector general has reversed its findings on the Marine Corps' 2012 schedule of budgetary activity, saying the clean opinion it first issued is no longer to be relied upon. The 2012 SBA had been the first successful financial audit for any of the military departments.
March 24, 2015 -
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The Air Force does a 180 and now predicts it will meet the September and the 2017 financial management deadlines. Government auditors and Senate lawmakers agree the key to this effort is whether the Defense Department can upgrade and improve their track record in implementing ERP systems.
May 14, 2014 -
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The Army hopes to follow behind the Marine Corps in successfully passing a partial audit of its financial statements. While the service acknowledges it's unlikely to get a clean opinion on the first go-round, it is confident enough in its internal controls to give it a try.
March 20, 2014 -
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Jamie Morin, the outgoing comptroller and President Barack Obama's nominee to be DoD's second director of Cost Assessment and Program Evaluation office, told lawmakers Thursday that the Air Force would struggle to meet the 2014 financial management deadline. Jo Ann Rooney, the nominee to be undersecretary of the Navy, said furloughs from sequestration and the government shutdown have delayed progress on several programs.
October 10, 2013 -
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New legislation introduced by Sens. Tom Coburn (R-Okla.) and Joe Manchin (D-W.Va.) pushes the Pentagon toward being ready for a full financial audit by restricting spending on major weapons programs if DoD fails to get its books in order.
September 18, 2013 -
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The Defense Department's attitude toward the importance of auditability has undergone a marked change, but experts believe compliance with its next legal deadline will be a stretch.
April 12, 2013 -
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DoD's top financial manager says the Pentagon is pressing forward to meet Congressional edicts for auditable financial statements. But constant federal budget emergencies are sapping huge amounts of energy from the financial workforce tasked with preparing for audit.
September 17, 2012 -
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The Pentagon faces an uphill climb in getting ready for an audit of its consolidated financial statements by 2017, outside experts said Thursday. Nonetheless, the goal is achievable if the push is sustained by future secretaries of Defense.
November 18, 2011 -
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Defense Secretary Leon Panetta wants the department to have at least part of its books ready for audit well in advance of the Congressionally-mandated 2017 deadline. The edict could prove challenging for some components of DoD.
October 14, 2011 -
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In reports and testimony to Congress, the Government Accountability Office finds DoD has built a credible plan to meet a Congressionally-mandated full financial audit by 2017. However, the audit agency is skeptical the military branches will be able to implement the plan in time.
September 19, 2011 -
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The Defense Department\'s deputy chief financial officer said Friday that the department believes it will achieve the 2017 deadline to produce auditable financial statements. DoD is approaching the problem in way that makes clear that clean books are not only the responsibility of its accountants, he said.
February 21, 2011
