Agreed-Upon Procedures Related to the 10th Edition of the Army Chief Financial Officers Strategic Plan

摘要

Army financial and functional managers responsible for implementing the Army Chief Financial Officers Strategic Plan (the Strategic Plan) should read this report. It specifies actions Army managers can take to improve the Strategic Plan. We performed this assessment of the 10th Edition of the Strategic Plan at the request of the Assistant Secretary of the Army (Financial Management and Comptroller). The Army General Fund and Army Working Capital Fund FY 2007 financial statements reported $286.9 billion in assets and $294.3 billion in budgetary resources. Deficiencies in financial management systems and uncorrected material internal control weaknesses have prevented the Army from receiving an unqualified audit opinion. The Army developed the Strategic Plan as a blueprint for achieving an unqualified audit opinion on its financial statements. The Deputy Assistant Secretary of the Army (Financial Operations) has overall responsibility for the Strategic Plan. The staff agencies are responsible for devising and executing detailed plans to implement tasks in the Strategic Plan. Results. The Strategic Plan did not identify actions needed to correct material internal control deficiencies and to implement financial requirements. In addition, the Strategic Plan task milestones were not feasible. Although the Strategic Plan has improved the Army's ability to identify and track the tasks necessary to comply with financial requirements and correct internal control weakness, the lack of staff agency implementation plans has limited progress towards achieving financial accountability and obtaining an unqualified audit opinion on the Army financial statements. As a result, the 10th Edition of the Army Strategic Plan was not an effective tool for correcting Army's financial accounting and reporting deficiencies.