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Mid-Ohio Valley AGA Conference Moving Toward a Clean Gover nment-Wide Audit Opinion: Current Challenges and Emerging Priorities to Drive Efficiency and Reduce Costs May 14, 2013. Government-Wide Financial Management Grant Thornton Panel.

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Mid-Ohio Valley AGA ConferenceMoving Toward a Clean Government-Wide Audit Opinion: Current Challenges and Emerging Priorities to Drive Efficiency and Reduce CostsMay 14, 2013

government wide financial management grant thornton panel
Government-Wide Financial ManagementGrant Thornton Panel
  • Carlos Otal – Partner, Department of the Treasury Government-wide Accounting Modernization Program (GWAMP) and Intra-governmental (IGT) initiatives
  • Tracy Greene – Partner, United States Marine Corps (USMC) Audit
  • Doug Criscitello – Managing Director, Former Federal CFO at Department of Housing and Urban Development (HUD)
government wide financial management grant thornton panel1
Government-Wide Financial ManagementGrant Thornton Panel
  • Owen Barwell – Managing Director, Former Deputy CFO at Department of Energy (DOE)
  • Nancy Fleetwood – Senior Manager, Former Treasury Executive Director of the Office of Payments Integrity
  • Demek Adams – Senior Manager, Department of the Treasury IGT initiatives
government wide financial management financial report overview
Government-Wide Financial ManagementFinancial Report Overview
  • Importance of the FR
  • Value of a Clean Audit Opinion
  • CFO perspective for FR/Audit Opinion
  • Based on the FY12 FR, three material weaknesses exist
    • Department of Defense (DoD)
    • Intra-governmental (IGT)
    • Compilation
government wide financial management fr challenge 1 dod material weakness
Government-Wide Financial ManagementFR Challenge # 1: DoD Material Weakness
  • DoD Historical Challenges
    • Military equipment
    • Dispersed resources
    • Technology impediments
  • DoD Progress-to-Date
    • Components with clean audit opinion (e.g., DFAS)
    • USMC Audit
  • DoD Next Steps
government wide financial management fr challenge 2 igt material weakness
Government-Wide Financial ManagementFR Challenge # 2: IGT Material Weakness
  • IGT Historical Challenges
    • Agency communication
    • Timely reconciliation
  • IGT Progress-to-Date
    • Long Term Plan
    • IGT Metrics & Scorecard Program
    • Treasury Financial Manual (TFM) updates
  • IGT Next Steps
government wide financial management fr challenge 3 compilation material weakness
Government-Wide Financial ManagementFR Challenge # 3: Compilation Material Weakness
  • Compilation Historical Challenges
    • Reliance on agency audit opinions
    • Budgetary data not audited
    • Lack of data granularity
  • Compilation Progress-to-Date
    • FMS/BPD merger into Fiscal Service
  • Next Steps
improper payments recovery and improvement act iperia
Improper Payments Recovery and Improvement Act (IPERIA)
  • President signed into law January 2013
    • Requires Director of OMB to identify high-priority programs, set targets with agencies
    • Agencies to report high-dollars IP to Inspectors General, OMB to make available on central website
    • Requires IGs to review Agency IP estimates
    • Requires agencies to check key databases prior to release of funds
      • Death Master File (SSA), Excluded Parties (GSA), Debt Check (Treasury), Credit Alert System (HUD), List of Excluded Individuals/Entities (HHS), & other databases
improper payments recovery and improvement act iperia1
Improper Payments Recovery and Improvement Act (IPERIA)
  • Formally establishes Do Not Pay Program for prepayment and pre-award – OMB must report on success
    • Agencies must use by June 1, 2013
  • Some changes to computer matching process – OMB guidance
  • Attorney General to report on using data on conviction and incarceration status of individuals to prevent improper payments
  • Requires OMB to establish & report to Congress on plan for improving quality, accuracy, & timeliness of death data maintained by SSA
  • OMB to report on recovery audit contractors
government wide financial management what s next
Government-Wide Financial ManagementWhat's Next?
  • CFO's Management Agenda
  • Initial findings from 2013 AGA CFO Survey
  • Changing the conversation (Focus on "Big G")
  • Evolving role of the CFO