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1 1 (April 26, 2023)

handle is hein.amenin/aeiaeor0001 and id is 1 raw text is: Key Points 4 Auditing the Defense Deparirnent fuill inancial statement is reuir ed by aw. 4 Rather than focusing exclusively on doing vhatever is necessarincludin cast, temr- ray fAxes-to get a passing grade from auditors, pursuing meaningful goals and lasting improvements rnakes the department a sm rter custorer ard a better steward with a rnor'' -tnal'force 4 We can sce the el va ue of the audit journey now in the forrn of accurate, timely data for readiness, cybersecur ty, 'ogistc5, personnel manaiement, programring, ar con- tractin decisions. Ti repor exp lains wy the aurd it matters ard rna kes it rore relatable by describinc its vaue beyond the technical talk of Mnancia statements, balance sheets, and the fund balance with Trsasury, The Department of Defcnse (D ) is Anerica's oldest and iargest governrent agen, wvth a mi tary tar traces its roots back through -he Depart- ments of Wb ar and the Navy to prerevolutionary times. ToJy hi has a budget of over $So billion, ;.4 million secvice members and civilians, and 4,Sno sires s Csall o stares, the Dnistrcr of Colun-- b ia, seven UIS territories, and iore than 160 coun- tri s. it manages bothi mandato ry and discre tion- my kinds across numerous appropriation accounts and trust funds. iie DOD budget was built to request, obtain, and spend the funds necessa-y to provide for the comni.n n defe:nse -to dceer, fight, and win the natior s wars. Financial and other b usness, con- tracting, logistics, and personnel sys teasw set up as neeCed over dCeades to per o'rm t ms ru - sion. Historically, keeping enterprise -wide rec- ords necessary, for a full financial statement audit was of essTer priority t an the core dcfense mis- sion, as was appropriate. As the military evolves twe 'way in igts, so it must also evolve the tools it uses. Today, ct. ar' One of those essential tools. Audi-ing -he full financial statement is required by law And tlough a. cl ea audit opinion would be good, it is Nn he tos develope d ir the evolution of systems to provide compreh laensive, ac cur:ate, and tilyi data for readiness, cybersecurity logis- tics, persol t.1 mwanaginemnt, prog rammning, and contracting decisions that we sce the real calue of the audihtjrurney. This report follows AE's 202i What Should You K now About the Defense Audit report to explain why the audit matters. We also try to make tine audit o re relatabie by dcscrbig its value beyon:d t e technical talk of financial statements, bla nc sheets, and the fund balance with Treasury. After a brief historical overview, we describe where the audit stands now and those elements of

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