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Government-Wide Financial Management Grant Thornton Panel

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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Government-Wide Financial Management Grant Thornton Panel

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  1. 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

  2. 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)

  3. 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

  4. 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

  5. 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

  6. 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

  7. 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

  8. 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

  9. 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

  10. 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

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