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AIMD-00-312R 1 (2000-09-13)

handle is hein.gao/gaobaallu0001 and id is 1 raw text is: t :GAO Accountability IIntegrity * eliability United States General Accounting Office Accounting and Information Washington, DC 20548 Management Division B-286184 September 13, 2000 Mr. Nelson Toye Deputy Chief Financial Officer Office of the Under Secretary of Defense (Comptroller) Subject: Financial Management: Financial Reporting Issues Related to the Navy's Direct Vendor Delivery Initiative Dear Mr. Toye: As a part of our ongoing efforts to work with the Department of the Navy to prepare auditable financial statements, we have participated in several of the Navy's clean financial statement working groups. The Office of the Assistant Secretary of the Navy (Financial Management and Comptroller) established these working groups to address problems in financial management and reporting. During our participation in the Inventory Held for Sale working group, the concept of Direct Vendor Delivery (DVD)1 was discussed as a way to improve supply chain management and its impact on financial reporting. Representatives from the Navy Supply Systems Command (NAVSUP) had questions regarding how a DVD contract would affect the Navy's financial reporting. NAVSUP requested input from the audit community regarding DVD requirements. Specifically, they asked the following questions. * Would accounting and auditing standards require DVD contractors to report individual transactions through the Transaction Item Reporting (TIR)2 system? What level of reporting would be required under a DVD contract to meet accounting and auditing standards? We presented the attached briefing to the working group to address these questions. We are sending this information to you because it has come to our attention that other DOD components currently use DVD or are considering similar initiatives. For example, similar programs include (1) the Defense Logistic Agency's Medical and Food Prime Vendor 1The DVD initiative involves awarding contracts to commercial vendors to provide inventory directly to Navy customers in time to meet their needs, thus reducing use of Navy resources. 2The Navy TIR system provides daily, electronic processing of inventory transactions which allows inventory managers on-line visibility of inventory on hand. GAO/AIMD-00-312R Direct Vendor Delivery

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