DoD Financial Management: Additional Actions Needed to Achieve a Clean Audit Opinion on DOD’s Financial Statements , May , 2023
DoD Financial Management: Additional Actions Needed to Achieve a Clean Audit Opinion on DOD’s Financial Statements , May , 2023
From the report: “The Department of Defense’s (DOD) financial statement audits for fiscal year 2022 and prior years have resulted in disclaimers of opinion—meaning that auditors were unable to obtain sufficient, appropriate evidence to provide a basis for an audit opinion. Fiscal year 2018 was the first year that DOD underwent its full-scope consolidated financial statement audit. For that and each subsequent fiscal year, auditors identified material weaknesses, which are serious deficiencies that affect DOD’s financial reporting (see figure). Auditors also issued thousands of notices of findings and recommendations (NFR).”
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