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 Henry Hancock

Weapons school grad challenges Airmen as new AU commander

U.S. Air Force photo by Henry Hancock Lt. Gen. Steven Kwast, Air University commander and 1994 outstanding graduate from Fighter Weapons School at Nellis Air Force Base, Nev., addresses Airmen Nov. 12 at Maxwell-Gunter Air Forc...
 
 

AF closes FY14 force management programs

WASHINGTON — Airmen who met the service’s reduction in force board were notified of the board’s results Nov. 19, bringing the fiscal 2014 force management programs to an end. The RIF board selected 354 captains and majors across the Air Force for non-retention, half of the number the service previously projected it would separate. Line...
 
 
Courtesy graphic

Blowing away ashes

Courtesy graphic Tobacco use remains the single largest preventable cause of disease and premature death in the U.S., yet more than 45 million Americans still smoke cigarettes. However, more than half of these smokers have atte...
 

 

479 selected for CMSgt promotion

JOINT BASE SAN ANTONIO-RANDOLPH, Texas – Of the 2,525 senior master sergeants eligible for promotion to chief, 479 were selected for an 18.97 percent selection rate, Air Force Personnel Center officials announced today. To see the selection list, go to the Air Force Portal at https://my.af.mil, or myPers at https://mypers.af.mil. Airmen will be able to access their score...
 
 
U.S. Air Force photo by Airman 1st Class Christian Clausen

Creech chiefs welcome finest Airmen into top enlisted tier

U.S. Air Force photo by Airman 1st Class Christian Clausen Senior Master Sgt. Matthew Saugstad, center left, poses with his wife Senior Master Sgt. Carissa Saugstad, Chief Master Sgt. Butch Brien, 432nd Wing command chief, and ...
 
 
U.S. Air Force photo by Staff Sgt. Siuta B. Ika

Creech commandeers career counseling capability

U.S. Air Force photo by Staff Sgt. Siuta B. Ika Senior Master Sgt. Tonya Joyce (left) and Master Sgt. Marcy Holland, both 99th Force Support Squadron career assistance advisors, are available to help Airmen stationed in Souther...
 




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