Financial Management

Latest Headlines

Latest Headlines

Financial system shared services still lacks governance model

Establishing a governance model for the latest Office of Management and Budget attempt to move federal financial managed systems onto a shared systems model remains an unfinished priority, officials said during a Sept. 25 panel.

Navy ERP implementation overlooks possibility to correct material weakness, say auditors

Navy is overlooking an opportunity to correct a long-standing material weakness with military equipment financial reporting with its implementation of a key enterprise resource planning system, say Defense Department auditors.

Issa tries again with DATA Act

House Oversight and Government Reform Chairman Darrell Issa (R-Calif.) will try again this year to pass into law a bill that would require federal agencies and companies or organizations receiving federal dollars to report back each quarter financial data using standardized data elements.

Configuration management still challenges Coast Guard financial systems management

The Coast Guard continued to have poorly designed and operated script change control policies over its core general ledger software during the last fiscal year, although those practices are improving, say auditors in an annual assessment of Coast Guard financial systems.

IG: HHS predictive analytics require better reporting on savings and ROI

The Health and Human Services Department has implemented predictive analytics technologies, but it hasn't  fully complied with the requirements for reporting actual and projected improper payments recovered and avoided in the Medicare fee-for-service program and its return on investment, saysto an HHS inspector general audit  report  (.pdf).

Navy ERP a 'qualified success'

Unexpected changes in Navy maintenance business practices account for much, but not all, of Navy ERP program cost overruns, concludes a Defense Department-commissioned Rand study. Changes in maintenance processes eventually led program managers to drop maintenance entirely from the enterprise resource planning program's scope.

GAO: DoD business systems management still at risk

In a  report  (.pdf) dated June 1, the GAO notes several problems with DoD business systems management, including the fact that it continues to certify and approve business system modernization worth more than $1 million on the basis of limited information.

OIG: DHS CIO has little say over component IT budgets

Despite an ongoing and concerted effort to make the Homeland Security Department more cohesive, the DHS chief information officer is only viewing IT budget documents once they're submitted by components.

DOD will miss 2015 goal for managing assets by UID, says GAO

As of April 2012, neither the Air Force nor the Navy are actively integrating item unique identifiers into their ERPs, the GAO says.

The Air Force will audit with the systems it has rather than the ERPs it wants

The Air Force will have to meet an accelerated goal for audit readiness by the end of calendar year 2014 with the legacy systems it has in place rather than the massive enterprise resource planning systems it's been developing, acknowledged Jamie Morin, Air Force comptroller.