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Financial Improvement and Audit Readiness (FIAR)
The Department of Defense (DoD) is committed to having fully auditable financial statements by 2017, the deadline established by Congress in the National Defense Authorization Act of 2010. In addition, Secretary Panetta outlined an accelerated goal of achieving an auditable Statement of Budgetary Resources (SBR) for General Funds in 2014. The Department is:
FIAR Goals and Priorities
Mission Critical Asset Information
The benefits of focusing improvement efforts on mission critical asset information include:
Accomplishing this priority will not only improve important management information, it will also move the Department closer to auditability as existence and completeness of assets are two of the five financial statement assertions that auditors test in a full financial statement audit.
Financial Performance Improvement Accomplishments
The Department has made measured progress in improving financial information and in achieving full auditability, as demonstrated by the financial statement audit opinions identified below:
Improving Financial Performance