The Defense Department is preparing to undergo a partial financial audit in 2015 under a mandate from Congress, Federal News Radio reported Wednesday.
Jared Serbu writes the move is a preparatory stage toward a full-scale independent audit in fiscal year 2017 for all DoD components.
James Watkins, deputy assistant Army secretary for financial operations, told the station each military service has begun migrating information technology systems to new enterprise resource planning systems for financial accounting.
The Army is deferring a financial audit until its General Fund Enterprise Business System starts operations, according to the report.
Stephen Herrera, associate deputy assistant secretary for financial operations of the Air Force, told Federal News Radio the service’s Defense Enterprise Accounting and Management System has been deployed to six bases.
Serbu writes the Air Force will modernize its legacy ERP systems in order to produce complete financial statements in 2017.
The Navy claims eight out of 10 elements in its budgetary activity schedule are audit-ready, the station reports.