This article was published in the December 2018 issue of the NPMA Property Professional magazine. To download the full article see p27, click here. Data Accuracy is Crucial to Audit Readiness By Peter Collins Audit Readiness is a major initiative in 2018 for the Defense Department and this is putting increased importance on financial, property and [...]
The US Department of Defense (DoD) has completed its first-ever Department-wide, full financial statement audit covering $2.7 Trillion in assets for fiscal year 2018. The audit included all mission critical assets within the US military, including items such as buildings, equipment, vehicles, planes, ships, computers and more. This full financial statement audit was carried out [...]
Recently, as part of the A2B Tracking's Webinar Series, I presented an online session to discuss the latest developments in the FIAR Initiative and specifically How to prepare for the 2019 Defense Audit. The Financial Improvement and Audit Readiness (FIAR) Initiative began in FY2013 with the goal of improving the DoD’s financial management operations. The DoD [...]
NPMA Fall Education Seminar Pat Jacklets, A2B Tracking’s Asset Management Expert, and Sharrieff Christmas, Sales Manager, will be featured speakers at the 2018 NPMA Fall Education Seminar. The NPMA (National Property Management Association) will host their Fall Conference on November 1-2 in San Diego, California. The NPMA Fall Education Seminar (FES) is designed to bring [...]
The DoD's FY18 Audit is nearly over -- How do you prepare for 2019? The largest audit in Department of Defense history is currently underway. Estimates place the cost of the audit initiative above $900 Million for FY18. The audit portion is estimated at $367 million, while fixing the issues uncovered by the audit could [...]
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 [...]
Recently, as part of the A2B Tracking’s Webinar Series, Sharrieff Christmas and I, Dan Faria, discussed Reporting Assets to the IUID Registry and how it can impact a government audit. For this post I want to talk about how to be fully prepared for a government property audit. The Department of Defense (DoD) is being [...]
The US Congress together with the current administration are holding the Department of Defense (DoD) accountable to achieve and sustain Full Audit Readiness of DoD property, plant, equipment, operating materiel and supplies starting FY2018. This audit readiness initiative is more than an investigation into accounting and record keeping. It’s a department-wide endeavor, which began in [...]
The branches of the US Military and contractors that support them have all made significant strides towards the FIAR initiative and becoming “Audit Ready”. But there is still a long way to go! The process of capturing and reporting all assets to the IUID Registry whether they are legacy items, [...]
If your organization wants to do business with the US Military having an Audit Readiness plan is critical to your success. An important part of audit preparation is acquiring the proper documentation that proves your compliance to your contract obligations and to any applicable military standards. The two most important [...]
