Audit of the DoD’s Plans to Address Longstanding Issues with Outdated Financial Management Systems : Department of Defense , January 19 , 2024
January 19, 2024
Department of Defense
Audit of the DoD’s Plans to Address Longstanding Issues with Outdated Financial Management Systems : Department of Defense , January 19 , 2024
January 19, 2024
Department of Defense
Background: "The DoD uses more than 4,500 systems, at least 232 of which are considered ICOFR‑relevant by the DoD and are subject to the FFMIA, which requires that Federal financial management systems provide accurate, reliable, and timely financial management information. For the last 27 years, the Government Accountability Office has identified the DoD’s business systems as being vulnerable to fraud, waste, abuse, and mismanagement, or needing transformation. Since these issues were first identified, the Government Accountability Office and DoD OIG have reported that the DoD’s efforts to improve its system environment, modernize its outdated systems, and become auditable have been insufficient. As recently as the FY 2022 DoD Agency Financial Report, the DoD reported that it is targeting FY 2028 to become FFMIA compliant."
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