USAF says still on track for FY-18 audit but reports large accounting holes

By Rachel Cohen / November 28, 2016 at 7:15 AM
The Air Force closed more than half of the 225 notices of findings and recommendations issued in its fiscal year 2015 Schedule of Budgetary Activity audit and put corrective actions in place, the Defense Department's chief financial officer said in a November 2016 audit status report. "The Air Force received a disclaimer of opinion on its FY 2016 SBA audit mainly due to internal controls not operating effectively, accounting policies and procedures inconsistent with [generally accepted accounting principles], weaknesses in...

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