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Tag Archives: financial audit

David Norquist: DoD’s Inaugural Financial Audit to Cost $367M in 2018

David Norquist, Defense Department comptroller, has said the first departmentwide financial statement audit is expected to cost approximately $367 million this year, DoD News reported Wednesday. “We also anticipate spending about $551 million in 2018 fixing problems identified by the auditors,” he said Wednesday during his testimony before the House Armed Services Committee. …

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David Norquist: DoD Financial Audit Now Underway

David Norquist, Defense Department comptroller, has said he received a notice from the Pentagon’s office of the inspector general about the start of the first agencywide financial audit this month, DoD News reported Thursday. “Beginning in 2018, our audits will occur annually, with reports issued Nov. 15,” Norquist said Thursday during the Pentagon …

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Mike McCord: DoD Moving Toward Auditability Goals

Defense Department Comptroller Mike McCord said at a House Armed Services Committee hearing Wednesday that DoD will continue to work toward achieving a clean audit opinion, DoD News reported Thursday. Jim Garamone writes McCord told committee members the department’s current strategy to achieve full audit accountability is a key element of Defense Secretary Ashton …

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Profile: Anita Bales, Director of Defense Contract Audit Agency

Anita Bales has served as director of the Defense Contract Audit Agency since the end of August 2014 and is in charge of the agency’s global operations and resources. She provides executive direction to DCAA’s professional auditors and other personnel as well as oversees program planning, development, implementation and evaluation in support …

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GAO Says Federal Financial Statement Flawed, Incomplete

The Government Accountability Office said on Wednesday it was not able to give an opinion on the Treasury Department‘s annual financial statement for the entire government. In his 6-page statement accompanying the full report, Comptroller General Gene Dodaro cited “material weaknesses in internal control over financial reporting and other limitations on the …

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Senate Bill Moves Up Pentagon Audit Deadline

In mid-October, Defense Secretary Leon Panetta told the House Armed Services Committee he wanted the Pentagon to be ready for an audit by 2014, three years earlier than the deadline mandated by Congress. Later in a memo to Pentagon comptroller Robert Hale Panetta ordered the department’s statement of budgetary resources …

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OMB Says 23 of 24 Agencies Have Finances in Order

The Office of Management and Budget recently announced financial books were in order at 23 of 24 applicable federal agencies for the first time in 20 years, as reported by Government Executive. Ratings for the Department of Homeland Security are noted as qualified while the Pentagon is the only department …

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