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Tag Archives: financial audit

DoD Inspector General Issues Report on FY 2018 Financial Statement Audit Results

The Department of Defense’s office of inspector general has released a new report to help non-auditors understand the findings of the first departmentwide financial audit in fiscal year 2018. A team of over 1K auditors visited more than 600 DoD sites and evaluated over 90K sample items and found that 13 of the 21 DoD reporting entities received disclaimers of opinion, which means that an auditor fails to obtain sufficient audit evidence on which to base an opinion, according to the report released Tuesday.
 

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James Mattis: DoD Initiates Measures to Build Up Lethality, Alliances Under National Defense Strategy

Defense Secretary James Mattis has said the Pentagon has launched several initiatives to advance the National Defense Strategy’s three lines of effort, Defense.gov reported Saturday. Mattis told the audience at the Reagan National Defense Forum in California that the Defense Department has initiated the recapitalization of the nuclear deterrent in order to increase lethality.
 

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Report: IT Weaknesses Among Largest Issues Uncovered in DoD’s First Financial Audit

The Pentagon failed to get a “clean opinion” in its first departmentwide financial audit, Federal News Network reported Thursday. A team of 1K independent auditors and representatives from the Defense Department’s office of inspector general evaluated over 90K sample items and found that information technology weaknesses were some of the top issues identified in the audit.

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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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