DoD spending comprises nearly half of the federal government’s discretionary spending. Image: Casimiro PT/Shutterstock.com
By: FEDweek StaffThe chair of the House subcommittee on government operations has asked the GAO to continue to scrutinize the Defense Department’s financial management practices in the wake of the latest financial audit, in which for the seventh in a row it received a “disclaimer of opinion.”
“DoD spending comprises nearly half of the federal government’s discretionary spending and its physical assets make up over 70 percent of the government’s physical assets,” but it “remains the only major agency that has never been able to achieve a clean audit opinion,” wrote Rep. Pete Sessions, R-Texas.
He noted that DoD financial management is on GAO’s high-risk list “because of pervasive deficiencies in the department’s business processes, internal controls, financial reporting, and financial management systems” and that a scorecard the subcommittee produced, largely based on GAO’s work, resulted in “mostly failing grades across the board.”
He asked GAO to continue analyzing the results of audits to help “track DoD’s progress toward achieving a clean audit opinion as well as progress in key areas that support a clean audit—the status of DoD financial management system modernization efforts and compliance with relevant legislative requirements.”
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