The DoD released their annual department-wide Audit results for FY2022 last week and for the fifth consecutive year the Defense Department was unable to achieve a clean audit opinion. Officially, the Inspector General issued a disclaimer of opinion on the Department’s FY 2022 consolidated financial statements. Which means the DoD did not pass the audit [...]
The Pentagon completed its fourth annual Department-wide, full financial Audit this month. And for the fourth year in a row, the Defense Department was unable to achieve a clean audit opinion. Michael McCord, undersecretary of Defense (comptroller) and chief financial officer stated that “we do not yet have a clean opinion and we have a [...]
Government Contractors that manage the shipment of End Items deliverables as well as spare parts for the US Government have to create DD250s, report the shipment via Wide Area Workflow (WAWF) and be responsible for IUID asset identification, specifically to stay in compliance with Military Standard 130. Often these same Contractors are also required to [...]
When contracting with the Department of Defense, there are a few different acronyms that are hugely important to keep track of. IUID, UID, and UII may seem very similar–and are in fact often used interchangeably–but some important differences do exist between them. IUID stands for "Item Unique Identification" UID stands for "Unique Identification" UII stands [...]
The Inspector General’s Office released a report last month entitled: Understanding the results of the Audit of the DoD FY 2020 Financial Statements. The Office of the Inspector General has been performing the DoD department-wide, full financial statement Audit for the past 3 years. In the 2018, 2019, and now again in the 2020 Audit [...]
Each year the Inspector General’s Office is required, by law, to produce a report on the Top DoD Management Challenges. This annual statement summarizes what the Inspector General considers the most serious challenges facing the Defense Agency. The report is intended to provide Congress and US Military leaders an independent assessment of the top management [...]
This article was written by Thomas Brading and published on the US Army website. To read the full contents of the article click here. WASHINGTON -- Despite challenges brought on by the COVID-19 pandemic, the Army’s third annual audit is underway and on track to wrap up this fall, says a top Army comptroller, as [...]
By Peter Collins This article was written by A2B Tracking’s President and CEO, Peter Collins. It was published as a cover story in the February 2020 issue of the NPMA Property Professional magazine. To download the full article - Click here. Why Government Contractors Need RFID for Tracking Inventory and Equipment In today’s business world, data [...]
The Defense Department continues it’s annual full financial Audit into fiscal year 2020. Last month, the DoD announced the 2019 Defense Audit results. For the second year in a row, the DoD officially failed the 2019 Audit; but, the Pentagon quickly reassured everyone that a clean opinion was not expected due to the size and scope [...]
Modern Government Property Managers are now working in a world where audits are the new normal. It’s no longer a question of if the audits will happen but when. In this post, I would like to take a closer look at why, I think, Audit Readiness is important for Government Property Managers. Last month, [...]
