Financial Management: Fiscal Year 1992 Audit of the Defense Cooperation Account
NSIAD-93-185
Published: Aug 13, 1993. Publicly Released: Aug 13, 1993.
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Highlights
Pursuant to a legislative requirement, GAO reviewed contributions of money, real or personal property, services, and supplies given to the Department of Defense (DOD) by any person, foreign government, or international organization.
Recommendations
Matter for Congressional Consideration
| Matter | Status | Comments |
|---|---|---|
| Congress should amend 10 U.S.C. 2608(i) and 2350g(d), which currently require that GAO conduct an annual audit of the Defense Cooperation Account and related activities. Specifically, the law should provide GAO with audit authority without specifying the frequency of the audits. |
Closed – Implemented
|
Implementing the GAO recommendation, Congress passed P.L. 103-160 requiring GAO to make "periodic audits" rather than annual audits of contributions to DOD. |
Recommendations for Executive Action
| Agency Affected Sort descending | Recommendation | Status |
|---|---|---|
| Department of Defense | The Secretary of Defense should issue financial management regulations on the Defense Cooperation Account and related contributions of money and goods. |
Closed – Implemented
On February 8, 1995, the Under Secretary of Defense (Comptroller) issued a memorandum to the heads of DOD components that promulgates guidance on contributions for defense programs, projects, and activities. This guidance has been incorporated in chapter 3 of volume 12 of the DOD Financial Management Regulations, which are scheduled to be printed in September 1996.
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Topics
Accounting proceduresAgency reportsDefense auditsDeposit fundsFederal regulationsForeign governmentsForeign military assistanceFunds managementGifts or gratuitiesNational defense operations