Statement from
Under Secretary of Defense (Comptroller) / Chief Financial Officer
David L. Norquist
on the Department of Defense Financial Statement Audit
December 6, 2017
Fulfilling the President’s and the Secretary’s commitment, I am proud to announce the Department of Defense audit begins this month. I have received the DoD Office of Inspector General’s (DoD OIG) notification that it will begin an agency-wide financial statement audit in December 2017. It is important that Congress and the American people have confidence in DoD’s management of every taxpayer dollar. These annual audits are fundamental to achieving one of the Secretary’s three main priorities: business reform.
Audits examine the accuracy of our financial information and test our ability to account for our property. With consistent feedback from auditors, we can focus on improving the processes of our day-to-day work. Annual audits also ensure visibility over the quantity and quality of the equipment and supplies our troops use.
With more than $2.4 trillion in assets, this financial statement audit is one of the largest ever undertaken in history. The DoD OIG hired independent public accounting firms to conduct audits of individual components, as well as a Department-wide consolidated audit to summarize all results and conclusions. Beginning in 2018, our audits will occur annually, with reports issued November 15.
"We are keenly aware of the sacrifices made by the American people to fund our military. Financial responsibility of America’s public money is critical to our Nation’s security. The audit ensures we have more accurate data so we can gain maximum value from every taxpayer dollar spent on defense, thereby earning and keeping the trust of Congress and the American people."
Secretary of Defense James N. Mattis
December 6, 2017