FINANCIAL AUDIT Air Force Does Not Effectively Account for Billions of Dollars of Resources part3 docx
FINANCIAL AUDIT Air Force Does Not Effectively Account for Billions of Dollars_part1 ppt
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FINANCIAL AUDIT
Air Force Does Not
Effectively Account
for Billions of Dollars
of Resources
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Contents ... why the accounts were unauditable. The Air
Force does not have financial systems that produce reliable financial
data. A number of large dollar items-aircr...
FINANCIAL AUDIT Air Force Does Not Effectively Account for Billions of Dollars_part2 ppt
... the
Air Force s chief financial officer. The Air Force s financial management
structure is decentralized. The Air Force Comptroller is primarily
responsible for systems that account for, control, ... network of over 120 Air
Force Accounting and Finance Offices and numerous disbursing agent
offices. The center is responsible for accounting for all money appropri...
FINANCIAL AUDIT Air Force Does Not Effectively Account for Billions of Dollars_part3 potx
... overstatements of revenues and
expenses at the Air Force consolidated level, distorting the results of Air
Force operations for the year.
Page 27
GAO/AFMD-90-23 Air Force Financial Audit
This ... the Air Force
acquires a new piece of equipment, or
DLA
or
GSA
changes its price for
the kinds of equipment items owned by the Air Force, the Air Force...
FINANCIAL AUDIT Air Force Does Not Effectively Account for Billions of Dollars_part4 ppt
... found that 71 of the 202
obligations we tested were not recorded within the 7 days.
Expenditures: Neither the Air Force Systems Command nor the Air
Force had criteria for the number of days it ... specific organizational levels
within the Air Force. In many cases, these weaknesses resulted from
noncompliance with Air Force regulations.
The Air Force is not al...
FINANCIAL AUDIT Air Force Does Not Effectively Account for Billions of Dollars_part5 doc
...
However, the Air Force has no systems to accurately account for billions
of dollars invested in aircraft, missiles, and engines. Furthermore, Air
Force accounting systems cannot produce the ... reconciliations of disburse-
ments with obligation balances.)
Value of Aircraft and
The Air Force systems do not accumulate, account for, and report the
Missiles Is...
FINANCIAL AUDIT Air Force Does Not Effectively Account for Billions of Dollars_part6 pptx
... the Air Force has not effectively
implemented its inventory valuation methodology.
Change in Cost
While the Air Force s use of replacement cost valuation in its cost
Accounting System Is
accounting ...
found that Air Force inventory values often did not represent replace-
ment costs as outlined in Air Force policy. Only 47 of the 113 items were
priced in accor...
FINANCIAL AUDIT Air Force Does Not Effectively Account for Billions of Dollars_part7 potx
... statement of operations for the fiscal year then ended. These
financial statements are the responsibility of Air Force management.
GAO
is not expressing an opinion on the Air Force s financial ... an Air Force- wide priority effort, supported by adequate
resources;
l
direct the chief financial officer to develop a comprehensive plan for
improving and integratin...
FINANCIAL AUDIT Air Force Does Not Effectively Account for Billions of Dollars_part8 potx
... Flnanclal Statements of the U.S.
Air Force for the Fiscal Year Ending
September 30,1988
fuels provided for Air Force aircraft. The following amounts
of disbursements of Air Force funds were made ...
statement
of financial position.
Page 81
GAO/AFMD-BO-23AirForceFinancialAudit
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Appendix I
ComwMated Financial Statements o...
FINANCIAL AUDIT Air Force Does Not Effectively Account for Billions of Dollars_part9 pot
...
Royal Air Force Lakenheath, England;
. Hickam Air Force Base, Hawaii;
. Kadena Air Base, Japan;
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Andrews Air Force Base, Maryland;
. Air Force District of Washington, Bolling Air Force ...
Wurtsmith Air Force Base, Michigan;
. Nellis Air Force Base, Nevada;
l
MacDill Air Force Base, Florida;
l
Langley Air Force Base, Virginia;
l
Griffiss...
FINANCIAL AUDIT Air Force Does Not Effectively Account for Billions of Dollars_part10 potx
... following are
GAO’S
comments on the Department of Defense’s letter
dated February 21,199O.
Force Does Not Effectively Account for Billions of Dollars of Resources.
2. We have modified the report ... to provide
for
such improvement and integration.
0 Recommendation No. 25: The GAO recommended that the Secretary
of the Air
Force
review the systems requireme...