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Strategic Objective
Improve financial processes, controls, and information via audit readiness.
Strategic Objective
Progress Update
FY 2015 APR Progress Update:
The Department has collaborated with Independent Public Accountants and the Federal Accounting Standards Advisory Board to issue policies governing Existence, Completeness, and Rights. The DoD will continue to implement and monitor corrective actions for existence, completeness at Reporting Entities.
The Department has issued policies governing valuation baselines for inventory/operating material and supplies, real property assets, and internal use software. Several reporting entities are working to develop valuation methodologies for new acquisitions.
The Department will continue to implement and/or monitor corrective actions to establish for existence, completeness at Reporting Entities; valuing Mission Critical Assets (MCA); auditor identified deficiencies; and analyze Fund Balance with Treasury (FBWT) differences and processes to identify root causes for corrective action. The DoD will continue audits for the Military Services’ current year, general fund budgetary activities; examinations for multiple Defense Agencies’ current year, general fund activities; and implement corrective actions impacting the Defense Agencies’ budgetary activities.
