Today, because of strong senior leadership, exceptional working relationships with the auditors, improvements to our documented processes and controls, and a validated CEFMS, we have created the conditions for enduring success in the CEO audit.
Part of our challenge during that time was developing and deploying CEFMS.
Each year, USACE must update all 15 cycle memoranda to incorporate any changes to policy, procedures, CEFMS automated internal controls, or external factors.
For example, risks we test at FIQ are related to asset reconciliations between CEFMS and our real and personal property accountability systems, whereas our IR partners will test individual time sheets and other supporting documentation compliance related to payroll on site at the FOA.
Using CEFMS, we were able to work with the auditors to estimate the year-end accruals and develop an automated process to enter corporate accruals.
There are three primary reasons for USACE success: CEFMS forces internal controls into the process; commanders understand the importance of internal controls and are held accountable; and customers demand and deserve stringent financial stewardship within USACE.
USACE: within the structure and functionality of CEFMS, the designers built in the capability to integrate financial data with a multitude of other types of data.
USACE: Without question, CEFMS is the link to a future unqualified audit opinion on our financial statements.
In the meantime, the auditors are thoroughly testing CEFMS at the transaction and general ledger level of detail, as well as trying to penetrate our communication linkages to gain access to the system.
USACE: Our CEFMS platform affords the Corps so many high tech opportunities that it boggles the mind.
EFT for payments to vendors and travelers has been available for some time in CEFMS.
We have recently introduced anew CEFMS functionality to automate intra-Corps MIPRS.