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Thursday, January 10, 2008

FederalNewsRadio - Ask the CFO - Dan Fletcher (DOI)

Department of the Interior

Dan Fletcher - Deputy Chief Financial Officer

Department of the Interior Secretary Dirk Kempthorne has said that, given its assets and responsibilities, the department would rank among the top 50 largest companies on the Fortune 500. Perhaps more importantly, Fletcher says Interior is already halfway home when it comes to bringing some of the best practices employed at those companies to bear. He says the key step has been establishing one financial, business and management system. Still, there are challenges when it comes aligning the multiple systems responsible from record keeping. Yet for all these challenges, Interior earned a clean audit opinion in FY 2007 and, for the first time, there were no material weaknesses. Fletcher says a big part of that is the department's approach to risk management. Fletcher also talks about Interior's accounting efforts related to Indian monies, going back to 1887.

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