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GAO-04-910R 1 (2004-09-20)

handle is hein.gao/gaocrptaqmg0001 and id is 1 raw text is: SGAO Accountability * Integrity Reliability United States Government Accountability Office Washington, DC 20548 September 20, 2004 The Honorable Norm Coleman Chairman The Honorable Carl Levin Ranking Minority Member Permanent Subcommittee on Investigations Committee on Governmental Affairs United States Senate The Honorable John Ensign Chairman The Honorable Daniel K. Akaka Ranking Minority Member Subcommittee on Readiness and Management Support Committee on Armed Services United States Senate Subject: Financial Management: Further Actions Are Needed to Establish Framework to Guide Audit Opinion and Business Management Improvement Efforts at DOD As the Comptroller General recently testified and as discussed in our latest financial audit report,' the Department of Defense's (DOD) financial management deficiencies, taken together, continue to represent the single largest obstacle to achieving an unqualified opinion on the U.S. government's consolidated financial statements. For example, to date, none of the military services has passed the test of an independent financial audit because of pervasive weaknesses in internal control, processes, and fundamentally flawed business systems. Problems with the department's financial management operations go far beyond its accounting and finance processes and systems. The department continues to rely on a reported 4,000 or more fundamentally flawed finance, logistics, personnel, acquisition, and other management information systems to gather the data needed to 'GAO, Fiscal Year 2003 U.S. Government Financial Statements: Sustained Improvement in Federal Financial Management Is Crucial to Addressing Our Nation's Future Fiscal Challenges, GAO-04- 477T (Washington, D.C.: Mar. 3, 2004). GAO-04-910R DOD Fiscal Year 2007 Audit Opinion

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