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.


 
 

 

Air Force moves to bring about RPA mission relief

The Air Force is pursuing a range of options that will, in combination with a reset in the number of sustainable combat air patrols, help alleviate long-term stress on Remotely Piloted Aircraft crews. Initial efforts were announced by the Air Force Secretary and Chief of Staff earlier this year; new initiatives include incentive pay increases...
 
 

Air Force releases Strategic Master Plan

WASHINGTON — The Air Force officially released the Strategic Master Plan May 21, which is the latest in a series of strategic documents designed to guide the organizing, training and equipping of the force over the coming decades. The SMP builds on the strategic imperatives and vectors described in the capstone document, America’s Air Force:...
 
 
U.S. Air Force photo by Airman 1st Class Christian Clausen

Frankenphone: Creech Airman improves RPA communications

U.S. Air Force photo by Airman 1st Class Christian Clausen Staff Sgt. Marion is a 42nd Attack Squadron sensor operator at Creech Air Force Base, Nev. Marion was recognized by Air Force leadership for constructing a device dubbe...
 

 
U.S. Air Force photo by Airman 1st Class Mikaley Towle

Space-A: No cost for Airmen, dependents, retirees

U.S. Air Force photo by Airman 1st Class Mikaley Towle Airman 1st Class Jourdan Sutton, 99th Logistics Readiness Squadron air terminal operator, checks the flight schedule at the air terminal on Nellis Air Force Base, Nev., May...
 
 
Sports

USAFWC vice commander throws first pitch

U.S. Air Force photo by Staff Sgt. Darlene Seltmann Brig. Gen. Stephen Whiting, U.S. Air Force Warfare Center vice commander, throws the first pitch during the Las Vegas 51s’ military appreciation night at Cashman Field in La...
 
 
U.S. Air Force photo by Airman 1st Class Christian Clausen

Dispelling remotely piloted aircraft myths

U.S. Air Force photo by Airman 1st Class Christian Clausen Chief of Staff of the Air Force Gen. Mark A. Welsh III conducts an all-call with the men and women of the 432nd Wing/432nd Air Expeditionary Wing at Creech Air Force Ba...
 




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