Department of Defense: actions needed to reduce accounting adjustments : report to the Chairwoman, Subcommittee on Military Personnel, Committee on Armed Services, House of Representatives / United States Government Accountability Office.

Format:

Book

Government document

Author/Creator:

United States. Government Accountability Office, author, issuing body.

Contributor:

United States. Congress. House. Committee on Armed Services. Subcommittee on Military Personnel, sponsoring body.

Language:

English

Subjects (All):

United States. Department of Defense--Accounting--Evaluation.

United States.

United States. Defense Finance and Accounting Service--Rules and practice.

United States. Department of Defense.

Accounting--Evaluation.

Physical Description:

1 online resource (ii, 43 pages) : color illustrations

Other Title:

GAO-20-96 DOD accounting adjustments

Place of Publication:

Washington, .C : United States Government Accountability Office, 2020.

Summary:

DOD remains the only major federal agency that has been unable to obtain a financial statement audit opinion. One of the contributing factors is DOD's large volume of nonroutine accounting adjustments, which are used for recording corrections or adjustments in an accounting system. This report examines accounting adjustments and their effect on the reliability of DOD's financial information, the extent to which DOD has established and implemented policies and procedures for recording accounting adjustments, and the extent to which DOD has taken actions to reduce adjustments recorded at the consolidated level. GAO is making eight recommendations to DOD, which include updating and implementing policies and procedures on recording accounting adjustments and identifying steps to reduce the need for recording adjustments across the department.

Contents:

Background

Some types of adjustments that DOD routinely records indicate critical weaknesses in DOD's processes and affect the reliability of its financial information

DOD and DFAS policies and procedures for recording accounting adjustments are inadequate and inconsistently followed

DOD and DFAS have taken actions to reduce accounting adjustments but lack procedures for implementing a department-wide strategy

Conclusions

Recommendations for executive action

Agency comments and our evaluation

Appendices.

Notes:

"January 2020."

"GAO-20-96."

In scope of the U.S. Government Publishing Office Catalog and Indexing Program (C&I) and Federal Depository Library Program (FDLP).

Includes bibliographical references.

Description based on online resource; title from PDF title page (GAO, viewed January 28, 2020).

OCLC:

1137604695