As had been the case for the previous 7 fiscal years, the DOD Inspector General
disclaimed an opinion on DOD’s financial statements for fiscal year 2003. DOD’s
financial management systems and reporting weaknesses substantially impair our ability to determine the reliability of the financial information reported in the federal government’s overall financial reports. Given the significance of DOD’s activities and balances to the consolidated financial statements, until DOD corrects its material weaknesses, it will continue to impede our ability to express an opinion on the consolidated financial statements. In addition, as noted later in this report, there are other material weaknesses that will need to be corrected.
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Posted by Tim at May 26, 2008 11:02 AM
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