M103: Financial Statement Audits Matter
- Room: Grand G-K
- Session Number:M103
Monday, July 18, 2022: 10:30 AM - 11:45 AM
Description
Delve into the value of the financial statement audit with Defense leadership, the CFO and audit partners. Gain an update on Navy and Marine Corps audits and discuss the benefit of audits to operational and resource management.
Key Take-aways
• Navy and Marine Corps financial statement audits yielded significant operational improvements, cost savings and efficiencies.
• Top leadership engagement is critical to audit success.
• Accurate inventory, reconciliations and monitoring of obligations are critical to agency success.
Learning Objectives
Gather the latest information on improvements in Navy and Marine Corps audits over the last several audit cycles. Discuss the value of the audit to operational leaders and agency financial leadership. Examine real life examples of how the audit pays for itself in improved effectiveness and efficiency.