House Armed Services Committee Panel on Defense Financial Management and Auditability Reform: Findings and Recommendations. : 112th Congress , 2012
House Armed Services Committee Panel on Defense Financial Management and Auditability Reform: Findings and Recommendations. : 112th Congress , 2012
From the introduction: “The House Armed Services Committee Panel on Defense Financial Management and Auditability Reform (the Panel) was appointed by Chairman Howard P. “Buck” McKeon and Ranking Member Adam Smith in July 2011 to carry out a comprehensive review of the Department of Defense’s (DOD’s) financial management system.1 The review was initiated to oversee the DOD financial management system’s capacity for providing timely, reliable, and useful information for decision-making and reporting. It is imperative that the DOD has reliable information to manage its resources, especially as the Department2 absorbs greater than $450 billion in budget cuts over the next decade and faces the possibility of an estimated $488 billion in further cuts as a result of sequestration. The Panel performed a six-month review, holding eight hearings and two briefings covering a broad range of issues in defense financial management. The Panel received comments from the Department and various stakeholder communities on the draft report prior to approving this final report on its findings and recommendations. The Panel’s recommendations will be provided to the full committee.”
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