How to Be Audit-Ready by the FIAR Deadline

September 2017 is quickly approaching -- is your organization prepared for the FIAR (Financial Improvement and Audit Readiness) Initiative? This major Department of Defense endeavor requires military contractors and program managers to report property existence and to validate the completeness of their inventory records by September 30th, 2017. Whether you’re in one of the [...]

By | April 24th, 2017|Blog|0 Comments

DoD’s Plan to be Audit Ready

The Financial Improvement and Audit Readiness (FIAR) initiative will reach a major milestone on September 30, 2017. The entire Defense community needs to understand that as we begin Fiscal Year 2018 on October 1st -- the FIAR Directive dictates that all accountable assets be audit ready. The US Congress is holding the DoD accountable to [...]

By | April 13th, 2017|Blog|0 Comments

Auto ID Technology Lies at the Core of FIAR Compliance

Big milestones are coming up in 2017 for the FIAR (Financial Improvement and Audit Readiness) Directorate, which will affect the way defense contractors do business. It is imperative that all contractors understand and follow the new Directorate, and also understand how Auto ID technology such as barcode and RFID, lies at the core of FIAR [...]

By | March 28th, 2017|Blog|0 Comments

IUID: The Key to Achieving FIAR Compliance

The Item Unique Identification (IUID) policy has been in place since 2004. This Department of Defense policy allows for the unique identification of assets to streamline the process for the accountability of those assets.  In order to meet your Financial Improvement and Audit Readiness (FIAR) compliance requirement you must be audit ready [...]

By | March 20th, 2017|Blog|0 Comments

The 2017 FIAR Directorate Deadlines

The Department of Defense has made it clear that it is committed to having fully auditable financial statements by the end of September 2017. This was the deadline that was established by Congress in the National Defense Authorization Act of 2010. Since 2005, when the Financial Improvement and Audit Readiness (FIAR) Plan was first issued [...]

By | March 8th, 2017|Blog|0 Comments