Army Audit Readiness - ASMC

army Audit Readiness 7 April 2011 John J. ArgodaleDeputy Assistant Secretary of the army ( financial Operations)2 army AuditReadinessDirectorateOverall Audit Message DoD is committed to meeting Congressional deadline of 2017 for fully auditable statements We have a streamlined and cost-effective approach that focuses on improving information we most use to manage the Department s resources We are seeking cost-effective ways to achieve full auditability We have a long way to go and will need significant Service support23 army AuditReadinessDirectorateWhy Is This Important? Comply with Laws:Laws require financial statement audits Verify Correct Allocation of Funds: Verify that all resources are allocated to approved mission priorities in a legal manner Make Better Use of Resources:Identify dollars before they expire Increase Public Trust: Reassure the public and Congress that DoD is a good steward34 army AuditReadinessDirectorateArmy Audit Readiness Timeline5 army AuditReadinessDirectorateExamination Scope & Expectations Exam 1 2011: Scope: Validate the army s Audit Readiness approach ensure we are doing what an Audit requires Continue to educate army personnel on Audit requirements Processes include: Funds Receipt and distribution below ABO level (Command HQ to installation); TDY-DTS travel; PCS travel; Contracts-SPS; Reimbursable-Inbound/Outbound Expecta

3 Army Audit Readiness Directorate Why Is This Important? Comply with Laws: Laws require financial statement audits Verify Correct Allocation of Funds:

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