ABSTRACT

DOD Financial Management: Continued Efforts Needed to Correct Material Weaknesses Identified in Financial Statement Audits, Report to Congressional Committees   [open pdf - 4MB]

From the Document: "DOD is responsible for about half of the federal government's discretionary spending, yet it remains the only major federal agency that has been unable to receive a clean audit opinion on its financial statements. After years of working toward financial statement audit readiness, DOD underwent full financial statement audits in fiscal years 2018 and 2019. This report, developed in connection with fulfilling GAO's [Government Accountability Office] mandate to audit the U.S. government's consolidated financial statements, examines the (1) actions taken by DOD and the military services to prioritize financial statement audit findings; (2) extent to which DOD and its components developed CAPs [corrective action plans] to address audit findings in accordance with OMB [Office of Management and Budget], DOD, and other guidance; and (3) extent to which DOD improved its ability to monitor and report on audit remediation efforts."

Report Number:
GAO-21-157
Publisher:
Date:
2020-10
Copyright:
Public Domain
Retrieved From:
Government Accountability Office: http://www.gao.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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