Air Force

September 27, 2013

AF accelerates efforts to become audit ready

WASHINGTON — The Air Force continues to make major strides toward becoming audit ready by Sept. 30, 2014.

The Air Force Financial Improvement and Audit Readiness team took a key step in the Air Force strategy to meet imminent deadlines.

FIAR team members are now visiting various Air Force units to review key financial processes. Processes under review include military pay activities that touch every Airmen as well as important but more obscure financial transactions such as how the Air Force collects reimbursements from the other services and outside organizations.

Following these visits, the team will assess current audit readiness and begin implementing any necessary corrective actions.  While Air Force financial managers believe they have made significant progress since the 2014 deadline was established by then-Secretary of Defense Leon Panetta in 2011, there is much to be accomplished in the next twelve months.

The audit readiness team includes government employees from throughout the Air Force as well as support from the accounting firm PricewaterhouseCoopers, which has experience auditing many large commercial and government organizations, including Exxon Mobil, Chevron, Ford, the Army Corps of Engineers and the Marine Corps.

According to Douglas Bennett, the principal deputy assistant secretary for financial operations, being audit ready isn’t just a numbers game; it’s bigger than that.

“As we have a responsibility to defend the American public, we also have a responsibility to be the best stewards of their funds we possibly can,” he said. “If we can’t pass an audit test, it will be hard to keep their trust and confidence.”

The actions Air Force officials are taking to achieve a clean audit opinion will also enhance the accuracy and timeliness of commanders’ financial information, allowing leadership to direct resources to pressing needs such as operations, training and maintenance.

A 2008 study by the Marine Corps found every dollar invested in audit readiness created $2.77 in value.

Keeping with the Air Force’s long-term goal of standardized, transparent business processes, the FIAR effort will help the service be better stewards of the dollars entrusted to them, said a key service official.

“Our FIAR team is documenting and testing our current processes,” said Stephen Herrera, the associate deputy assistant secretary for financial operations.  “These processes include military pay, contractor pay and travel pay as well as our controls for reporting assets such as munitions inventory and even the buildings and hangars our Airmen work in every day.”

As time passes, he said improvements are being made and ideas are becoming reality.

“As we work towards our September 30, 2014, goal of having our initial financial schedules ready to withstand audit scrutiny, we are aggressively working to verify and validate that we’re ready,” Herrera said.  “In several cases we’ve already done the ground work, reviewed our processes, taken necessary corrective actions and have essentially asserted to (Office of the Secretary of Defense) that we’re ready.”

Two examples Herrera gave are the examinations of the civilian pay and funds allocation processes.

“We recently asserted that our civilian pay process and our funds allocation process are ready for audit validation,” he said.  “This resulted in OSD hiring an accounting firm to perform an end-to-end examination of those processes to validate that our internal controls are sound and that the related financial data is accurate.  Personnel from my staff are supporting this examination and are visiting various Air Force organizations to review the respective processes, system controls and individual transactions.”




All of this week's top headlines to your email every Friday.


 
 

 
U.S. Air Force photo by Staff Sgt. Adawn Kelsey

Continued education inspires new Creech tradition

U.S. Air Force photo by Staff Sgt. Adawn Kelsey Master Sergeant Bryan Teeples, 15th Reconnaissance Squadron first sergeant, takes a selfie with Col. James Cluff, 432nd Wing/432nd Air Expeditionary Wing commander, and Chief Mast...
 
 
U.S. Air Force photo by Master Sgt. Shane A. Cuomo

F-35 and F-22 combine capabilities in operational integration training mission

U.S. Air Force photo by Master Sgt. Shane A. Cuomo F-22 Raptors from the 94th Fighter Squadron, Joint Base Langley-Eustis, Va., and F-35A Lightning IIs from the 58th Fighter Squadron, Eglin Air Force Base, Fl., fly in formation...
 
 

Our quest for zero

NELLIS AIR FORCE BASE, Nev. – Day in, and day out, we try to keep up with the hustle and bustle of the Nellis AFB mission; from the airmen basic replacing a sink facet to a colonel flying a training sortie, we all have some part in fulfilling this mission. The question is, how safe...
 

 

Airmen Powered by Innovation program launches new site

WASHINGTON — Fellow Airmen, Your enthusiasm and ingenuity continues to be our Air Force’s number one weapon system! In April we launched the Airmen Powered by Innovation program aimed at turning your ideas into real cost savings for our Air Force. Since coming online API has received and reviewed more than 2,400 ideas and that...
 
 
DoD
U.S. Air Force photo by Airman 1st Class Thomas Spangler

Raptor demo team soars into sky

NELLIS AIR FORCE BASE Nev. — Just as they do at many airshows across the nation, the F-22 Raptor Demonstration and Heritage Team from Joint Base Langley-Eustis, Virginia, showcased the capabilities of the F-22 in the skies ...
 
 

Social well-being vital to Airman wellness

NELLIS AIR FORCE BASE, Nev. — In order to accomplish the Air Force mission, and remain resilient to adversity, Airmen must maintain high levels of physical, mental, spiritual and social fitness. This quarter, the 99th Air Base Wing will focus on social fitness, by participating in events that focus on this Comprehensive Airmen Fitness pillar...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>


Directory powered by Business Directory Plugin