Thursday, September 4, 2014

Well, isn't that special... Army can't track spending on $4.3b system to track spending, IG finds

The problem, according to the IG, is that the Army has failed to comply with a variety of federal laws that require agencies to standardize reporting and prepare auditable financial statements.

"This occurred because DOD and Army management did not have adequate controls, including procedures and annual reviews, in place to ensure GCSS-Army compliance with Treasury and DOD guidance," the IG report concludes.

"Although Army personnel have been responsive to correcting deficiencies identified during the audit, the Army has spent $725.7 million on a system that still has significant obstacles to overcome" to comply with federal financial reporting laws.

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