The Office of the Deputy Chief Financial Officer (ODCFO) is responsible for creating a financial framework that includes policy, systems, audit, and reporting elements based on government accounting and auditing standards, federal regulations and laws, and best business practices. To do this, the ODCFO performs the following functions:
- Develops, publishes, implements, and interprets DoD-wide accounting and finance policies; ensures the DoD Financial Management Regulation is relevant and consistent with government accounting and auditing standards, appropriation laws, federal statutes, and regulations issued by the Office of Management and Budget, Treasury, and the Federal Accounting Standards Advisory Board; and represents the OUSD(C) in interagency forums, audits, and other matters that pertain to accounting and financial management policy;
- Leads and oversees certain targeted efforts towards improved DoD financial integrity or more specifically, obligation reviews to identify obligations needing de-obligation, reporting Joint Strike Fighter parts and equipment, increasing compliance with Treasury Disbursing Office standards, implementation of the DISA Identity Control and Access Management system, and implementation across the Department of Treasury’s G – Invoicing tool; and
- Develops, publishes, and interprets DoD-wide financial management improvements, audit readiness/execution methodologies, and guidance that supports statutory requirements for the Department to audit its full set of financial statements; acts as the proponent for the DoD Management Internal Control Program, to include evaluating funds control weaknesses; presents the DoD consolidated financial statements and performance and accountability reports; and interfaces with the Office of Management and Budget and the Department of the Treasury for government-wide financial initiatives.