Last month at the NPMA NES conference in Chicago, Pat Jacklets and I presented on the topic of Audit Readiness. It was such a popular session that the NPMA asked us to offer it again as an online webinar.
Please sign up here for this free one hour session on Audit Readiness and the Impact of the FIAR Mandate. This session will be hosted by the NPMA and sure to be packed with valuable information for Property Managers.
Click here for the NPMA Audit Readiness Webinar Registration page
The Defense Audit
Audit Readiness is a major initiative for the Defense Department in 2018 and this is putting increased importance on financial, property and inventory data accuracy.
Organizations that need to prepare for government audits are under pressure to put systems into place that will improve their inventory visibility, accuracy and make sure that their data is compatible with government systems.
Thousands of DoD auditors worldwide are currently involved in this annual auditing process. The auditors will ensure that all trackable property exists in the appropriate Government system of record and can be produced when requested.
In an August 9th interview, DoD Comptroller David L. Norquist said the audit’s results should be available in the fall.
“We normally have audits of individual programs, but this one is the entire department, so it verifies account, location, condition of our inventory, all the equipment, test for security vulnerabilities and validating personnel records and payments,” he said.
The 2019 fiscal year defense budget, for example, is set at $717 billion. The audit looks at all property, all equipment and all personnel, and it ensures accountability and provides transparency for the American taxpayer, the chief financial officer said.
One thing that seems certain is that the Audit will not go away any time soon. “It’ll be an annual process, and as I like to say to the workforce, it will go on as long as we both shall live,” Norquist said.
Audits are valuable in that they find challenges, he said. “Often, those are areas where people are doing things manually or the data is not compatible,” he added, “and when you streamline them, you get more efficiencies [and] you get more savings.”
Audit Readiness Webinar
Learn the steps that it takes to get your organization to become 100% audit ready and register now for this free online seminar.
Audit Readiness Webinar
Thursday Sept. 27 2pm EST
Presenters: Pat Jacklets and Peter Collins
Hosted by NPMA
If your organization does business with the DoD, or hopes to in the future, you need to have an audit preparation plan in place. And your audit preparation plan needs to be embraced across the entire organization so that you can properly capture and report all critical asset information from cradle to grave.
