/

GAO: Air Force Must Fully Implement Enterprise Risk Mgmt Approach for Mission-Critical Assets

1 min read
GAO
GAO

The Government Accountability Office (GAO) has found that the U.S. Air Force needs to improve its monitoring and reporting of financial data related to its mission-critical programs.

In a report released Thursday, GAO said the Air Force failed to fully execute its enterprise risk management (ERM) approach as mandated by the Office of Management and Budget (OMB) in handling its fiscal 2019 mission-critical assets valued at $398 billion.

The service branch also failed to establish comprehensive procedures for analyzing internal controls, which must evaluate all key areas crucial to meeting mission objectives, GAO said.

In addition, the agency noted that the Air Force was unable to implement results of the reviews for mission-critical assets in its analyses of internal controls.

“As a result, the Air Force is not fully managing its challenges and opportunities from an enterprise-wide view,” GAO said. “Until it fully incorporates ERM—planned for some time after 2023—the Air Force will continue to leverage its current governance and reporting structures as well as its existing internal control reviews.”