Compilation of the Navy Working Capital Fund FY 1997 Financial Statements at the Defense Finance and Accounting Service Cleveland Center

摘要

The DFAS Cleveland Center consolidated the financial information for Navy and Marine Corps and compiled the financial statements for the Department of the Navy. The overall audit objective was to determine whether the DFAS Cleveland Center consistently and accurately compiled financial data from Navy field activities, DFAS operating locations and other sources into the FY 1997 principal financial statements of the Navy Working Capital Fund. We evaluated the processes, internal controls, and methods that the DFAS Cleveland Center used to compile the financial statements. We also evaluated the DFAS cleveland Center management control program related to the compilation of the financial statements. The DFAS Cleveland Center accurately consolidated financial data and compiled financial statements for each of the Industrial and Service Business Areas of the Navy Working Capital Fund. The DFAS Cleveland Center made significant progress in the compilation processes since FY 1995 (the last time we reported on the compilation processes). However, the DFAS Cleveland Center had not updated its procedures and documented the audit trails and crosswalks used to compile the financial statements.