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When the Department of Defense prepares its financial statements each year, transactions that occur between two DOD components (like Army and Navy) must be eliminated from the department-wide statements.
Since 1995, the Department of Defense's financial management has been on our High Risk List. Thousands of audit findings from DOD's department-wide financial statement audits in 2018 show the extent of improvements needed.
Department of Defense financial management has been on our High Risk List since 1995 in part because of deficiencies found in its supporting information systems. DOD uses these systems to report its spending and assets.
Financial management at DOD has been a High Risk issue since 1995, with unreliable financial reporting and little accountability over a trillion-dollar budget. Now DOD is trying to build a cadre of qualified financial managers to lead reforms.
What GAO Found Although the United States Navy (Navy) has taken actions to become audit ready for its real property, GAO identified internal control deficiencies that impaired the Navy's ability to assert that (1) buildings recorded in the internet Navy Facility Assets Data Store (iNFADS), the Navy's...
What GAO Found The Schedules of Budgetary Activity (Budgetary Schedules) for the Army, Navy, and Air Force for fiscal year 2015 reflected current year budget activity as an interim step toward producing an auditable Statement of Budgetary Resources that will reflect multiyear budget activity.
Harmful overgrowths of algae—called algal blooms—are a problem in all 50 states. These blooms can hurt aquatic plants and animals by producing toxins, consuming oxygen, and limiting light penetration in the water.
What GAO Found The Navy has made progress in performing audit readiness activities, including developing a financial improvement plan (FIP) for its Fund Balance with Treasury (FBWT). These activities are critical to the Navy's General Fund Statement of Budgetary Resources (SBR) improvement efforts.