FedCFO Search Engine

@FedCFO Twitter Feed

Friday, September 09, 2011

Air Force at risk of missing financial audit deadline

The Air Force may not meet the 2017 deadline to have a clean financial audit.

Air Force comptroller Jamie Morin told House lawmakers Thursday the state of information technologies plays into service readiness.

Morin said the Air Force has made "real progress," but "the 2017 deadline will be challenging for the Air Force. We do see moderate risk but with a high level of leadership commitment we feel we are on track to make the deadline. IT systems modernization is an inescapable part of the Air Force effort."

Congress put the Defense Department on notice in the National Defense Authorization Act for fiscal year 2010 when it required the Pentagon to validate its financial statements as ready for audit not later than Sept. 30, 2017.

Other Defense services told the House Armed Services Committee's Panel on Defense Financial Management and Auditability Reform they are on track to meet the deadline, or already have a clean audit opinion.

The Army Corps of Engineers, for instance, already has earned clean audit opinion by independent examiners. The Marine Corps is currently undergoing an audit of its statement of budgetary resources.

Offices from the departments of the Army and Navy expressed confidence that they will meet the 2017 deadline.

-Peter Buxbaum, FederalNewsRadio.com

No comments: