Financial Improvement and Audit Readiness Plan : Department of Defense , March 31 , 2008
Financial Improvement and Audit Readiness Plan : Department of Defense , March 31 , 2008
From the report: "The U.S. Department of Defense (DoD) is the largest financial entity in the world. Each year, the Department manages over 57 million General Ledger transactions, maintains more than 2,900 business systems, and executes an average of 5 pay transactions every second. In Fiscal Year 2008, Defense appropriations totaled over $669 billion.
In 2001, the Department of Defense embarked upon a comprehensive program to transform its business systems and operations to improve financial management and financial stewardship, and prepare the department for audit.
The Defense Financial Improvement and Audit Readiness (FIAR) Plan has three primary objectives: 1) improve decision making by providing relevant, accurate, reliable, and timely financial information; 2) sustain improvements through a process of annual assessments and internal control; and 3) achieve unqualified audit opinions on DoD’s annual financial statements.
The first FIAR Plan identified financial management improvement priorities, established standard business rules for all financial management improvement efforts, and aligned itself with other business transformation efforts. This approach has not changed, although the framework upon which the Department structures, plans, and monitors financial management improvement efforts is today more comprehensive complete."
Authors - Office of the Under Secretary of Defense, ComptrollerSubjects
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