USTRANSCOM Audit Report Listings
USTRANSCOM Audit Background:
The Chief Financial Officers Act was passed in 1990, since then 23 federal agencies to include the Department of Defense (DoD), have implemented financial improvement measures with the ultimate goal of achieving an unqualified (clean) audit opinion. Additionally, the National Defense Authorization Act (NDAA) of 2014 mandated a department-wide audit starting in Fiscal Year (FY) 2018.
In FY 2018, the United States Transportation Command (USTRANSCOM) participated in its first full-scale financial statement audit. While the command's Transportation Working Capital Fund (TWCF) did receive a disclaimer of opinion from its external auditor, this was expected and USTRANSCOM has used the results as an indicator of the maturity of their business processes and level of audit readiness. The FY 2018 audit allowed USTRANSCOM to identify several processes and areas where we need to focus on remediation. USTRANSCOM will continue to strive for a clean audit opinion and make the necessary improvements.
