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Read. Follow. Verify.Hearing on Department of Defense Fiscal Year 2020 Audit Results
Record date · January 1, 2022
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What This Bill Does
The House Committee on Armed Services held a hearing to review the Department of Defense's progress in achieving a clean financial audit for fiscal year 2020. The session focused on the Pentagon's ongoing efforts to track spending more accurately and improve financial management efficiency.
The hearing addresses the accountability of approximately $750 billion in annual defense spending, which directly impacts how taxpayer funds are tracked and managed within the military branches.
Who It Affects
Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.
Department of Defense
The department is subject to the audit process and is required to improve its financial management and reporting systems.
U.S. Taxpayers
Taxpayers are affected by the transparency and accountability of the $750 billion in annual defense spending.
Key Facts
- The hearing was held on April 28, 2021, to discuss the Department of Defense's Financial Improvement and Audit Readiness (FIAR) plan.
- The Department of Defense manages an annual budget of approximately $750 billion.
- Douglas A. Glenn, Deputy Chief Financial Officer for the Department of Defense, provided formal testimony.
- Representatives from the Army, Navy, and Air Force financial management offices were present to answer questions.
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- The primary goal of the audit process is to improve the efficiency and effectiveness of how the Department of Defense spends its allocated funds.
- The hearing was conducted remotely via Webex.
Frequently Asked Questions
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News Coverage
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Discoveries
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Emphasis on Audit Readiness
The hearing highlights a continued, high-level congressional focus on forcing the Department of Defense to achieve full financial auditability.
Connected Entities
Sources
www.govinfo.gov
Analysis Score
0–100- Significance80How much this matters to a regular citizen
- Controversy20Intensity of disagreement among stakeholders
- Entertainment10Compellingness for a non-policy-wonk reader
- Buzz15Current news / social attention level
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