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New GAO Report on DoD Financial Management

The Government Accountability Office (GAO) has issued a new report of interest entitled “GAO-23-105784 DOD Financial Management: Additional Actions Needed to Achieve a Clean Audit Opinion on DOD’s…

New GAO Report on DoD Financial Management

New GAO Report on DoD Financial Management
Bill Kobren

The Government Accountability Office (GAO) has issued a new report of interest entitled “GAO-23-105784 DOD Financial Management: Additional Actions Needed to Achieve a Clean Audit Opinion on DOD’s Financial Statements”.

According to the GAO, the “DoD has been working to improve its long-standing financial management problems and achieve its goal of a "clean" audit opinion on its financial statements. A clean opinion is when auditors find that the statements are presented fairly and consistent with accounting principles. DOD has taken steps, such as developing corrective actions and roadmaps, to get to a clean audit opinion. But we found DOD's plans didn't have enough information, including detailed procedures for addressing known problems. We recommended that DOD develop a comprehensive plan to address these issues. DoD's financial management has been on our High Risk List since 1995.”

For additional insights encourage you to also visit the Property Management/Accountability, and Financial Improvement and Audit Readiness/ Remediation (FIAR) blog post to view a handy list of training opportunities and related resources.