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Search Tags: financial management
The Treasury Department and Recovery Accountability and Transparency Board are preparing to expand the use of new software and analytical applications this year. OMB Controller Danny Werfel said agency progress is coming along, but needs help from Congress to make it easier to share information among agencies.
A special House panel finds DoD's audit plan is credible, but successful implementation will depend on commitment of Defense components and future leaders.
Tags: DoD , Congress , House Armed Services Committee , management , Auditability , CFO , CFO Act , Robert Hale , Mike Conaway , Adam Smith , financial improvement and readiness plan , statement of budgetary resources , Senior Executives Service , workforce , budget , Jared Serbu , DoD Report
Agency chief financial officers and deputy CFOs said their top three priorities and challenges all revolve around improving how their agency manages spending, according to an exclusive online survey by Federal News Radio. Agencies expect the 2013 budget request to include significant cuts in across-the-board discretionary spending. CFOs and deputy CFOs also said they are concerned whether their workforces are adequately trained to meet the job's growing demands.
The Government Accountability Office said it cannot render an opinion on the federal government's 2011 consolidated financial statements due to "widespread material internal control weaknesses, significant uncertainties, and other limitations," according to a GAO release.
Asif Khan joined In Depth with Francis Rose to discuss a recent GAO report examining those services' financial-management issues.
The Pentagon has standardized, course-based training and certification programs for its acquisition workforce. DoD's CFO wants comparable standards for the department's financial management community.
The agency has released an RFI asking for infrastructure and platform-as-a-service options.
Defense Secretary Leon Panetta has told DoD he wants it to be ready for a partial audit by 2014. The Senate this week is considering taking that goal and making it law.
The Postal Service has hired Evercore Partners, a New York-based investment bank, to evaluate proposed changes to its operations, compensation and benefits. Evercore has advised General Motors and other large, troubled companies. USPS said it needs to cut annual expenses by $20 billion by 2015.
For the first time in 20 years, audits reviewed and gave an opinion for every civilian agency. Only DoD doesn't have a qualified or clean audit opinion.