In DoD’s first financial audit, 46 percent of problematic findings were related to IT, not strictly financial management.
A “disclaimer of opinion” was a foregone conclusion for Pentagon’s first financial audit before it even started. Now the focus turns to what the Defense Department will do with the findings.
Take a look back at this year’s biggest stories from the Defense Department, from proposals to cut the Fourth Estate to attempts to streamline acquisition and the passage of the one of the biggest defense budgets ever.
DoD’s first ever audit was a failure, but leaders say what’s important is that the Pentagon learns from it.
In today’s Federal Newscast, the USAJobs.gov website is among the first citizen facing sites to use the new Login.gov identity management service.
Rep. Mike Conaway, one of just a few financial accounting experts in Congress, says the Defense Department has already shown tremendous progress as it undertakes its first-ever audit.
Costs of DoD’s full-scope financial audit will approach $1 billion in the effort’s first year, but Defense officials contend the benefits are well worth the price.
Senate Armed Services Committee Chairman John McCain (R-Ariz.) laid the weight of DoD’s first audit squarely on the shoulders of David Norquist, President Trump’s pick for DoD comptroller. The department hasn’t been audited in 17 years, and has spent the past seven engaged in audit-readiness preparations.
December 2013 was a major milestone on DoD’s path to audit-ready financial statements. The Marine Corps became the first military service in history to get a clean opinion on a major part of its general fund. But new information has come to light since then, and on Monday, the DoD inspector general rescinded its favorable audit opinion – saying it’s no longer reliable. Congressman Mike Conaway (R-Texas) is a member of the House Armed Service Committee and is focused intently on DoD audit readiness over the last several years. He spoke with Federal News Radio’s Jared Serbu about the latest developments and what they mean for DoD’s broader audit goals.
Just a day after Defense Secretary Chuck Hagel proposed reductions in military end-strength and shrinking compensation costs as part of next year’s budget plan, a slate of nominees to lead key offices at the Pentagon faced congressional scrutiny.