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. Jack Sanders

Patches lead from front: Weapons system experts graduate from USAFWS

U.S. Air Force photo by Staff Sgt. Jack Sanders Gen. Hawk Carlisle, commander of Air Combat Command, addresses graduates of the U.S. Air Force Weapons School class 14B Dec. 13 at the Flamingo Las Vegas Hotel and Casino. As the ...
 
 
U.S. Air Force photo by Senior Airman Timothy Young

Chaplains help build relationships

U.S. Air Force photo by Senior Airman Timothy Young Chaplain (Capt.) Jason Klodnicki, a 99th Air Base Wing chaplain, helps coworkers find a solution to their problems during a counseling session at Nellis Air Force Base, Nev., ...
 
 

New commander addresses Airmen of 12th Air Force

To all of the 12th Air Force community, Happy holidays! My wife Kristan, my three children, and I are excited to join this outstanding 12th Air Force community. I cannot adequately express how honored and humbled I feel to join this community as the commander. I certainly appreciate the exceptional efforts of General and Mrs....
 

 

COMACC lands at Nellis for USAFWS graduation

U.S. Air Force photo by Senior Airman Thomas Spangler Gen. Hawk Carlisle, Air Combat Command commander, is greeted by, and talks with, Gen. Jay Silveria, U.S. Air Force Warfare Center commander, after arriving at Nellis Air Force Base, Nev., Dec. 11. Carlisle attended the U.S. Air Force Weapons School graduation ceremony as the guest speaker.
 
 
ammos

AMMOS CSC class 15A graduates

U.S. Air Force photo by Senior Airman Thomas Spangler Maj. Jesse Hasenkampf (center), commander of the 159th Maintenance Squadron from Naval Air Station Joint Reserve Base New Orleans, La., is named the distinguished graduate o...
 
 

Healthy, productive ways to cope with holiday stress

NELLIS AIR FORCE BASE, Nev. — As the holiday season quickly approaches, many Airmen become stressed when they try to figure out how to deal with visiting families, preparing large meals and buying gifts for loved ones. For others, stress can manifest because this could be their first time away from family during the holidays. Different...
 




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