DON Prepares for Audit Readiness

Published, September 14, 2012

The first Department of the Navy audit readiness video has been released. Audit readiness is for everyone, not just government financial types. The DON has a requirement to produce certified financial statements by 2017. To attain that goal we must be audit ready. Are you audit ready?

Audit readiness is a state of being prepared at all times to demonstrate proper manual and automated processes and documentation, including process controls, financial controls and information technology controls, that are executed in accordance with policy and appropriate accounting standards.

Audit readiness increases the accuracy of financial controls and produces more effective, transparent business processes which enable the DON to produce accurate, timely, and useful financial information for internal and external use by decision makers.

As audit readiness requires the participation of a diverse group of stakeholders, not just the financial management community, stakeholders from the lowest echelons all the way up to senior leadership in the DON must be prepared for a full financial audit by 2017. The DON can prepare and maintain a constant state of audit readiness by having business processes that are sustainable, traceable, and repeatable.

Watch the new DON audit readiness video created by the Financial Management Office, with the support of several other Navy organizations, and hear from individuals across the DON on what being audit ready means and why it is important.

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