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- Title
FIAR 2020: The NEXUS Between Acquisition and Audit Remediation.
- Authors
Kadiri, Mobola A.; Smith, Anna N.; Speciale, Stephen M.
- Abstract
The article explores the relationship between the Department of Defense's (DoD) acquisition and Financial Improvement and Audit Remediation (FIAR) efforts. The DoD has been unable to pass a financial audit, which is a key objective of their National Defense Strategy. The DoD's acquisition activities are driven by the need to enhance the Warfighter's capabilities and modernize business practices, while the FIAR efforts focus on transparency, accountability, and process improvement to ensure accurate financial information and prevent fraud. The DoD has made progress in obtaining an unmodified audit opinion, addressing weaknesses, and improving financial management operations. However, the COVID-19 pandemic may impact the timing and scope of financial statement audits. The DoD remains committed to achieving an acceptable financial state to fulfill its national defense responsibilities.
- Subjects
UNITED States. Dept. of Defense; AUDITING; FINANCIAL management; FINANCIAL statements; FRAUD; COVID-19 pandemic
- Publication
Defense Acquisition, 2020, Vol 49, Issue 4, p2
- ISSN
2637-5052
- Publication type
Article