CEFMSCorps of Engineers Financial Management System
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Beginning in FY 2019, we will work with DFAS to set up additional RWA's within DDRS to input more audited CEFMS trial balances directly into DDRS.
Also responsible for our success is the UFC, which processes millions of transactions, prepares financial statements and notes, and maintains CEFMS, the best financial management system within the federal government.
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.
Additionally, if the controls are automated, such as in CEFMS, the IPA will want to find individuals not authorized to approve or authenticate the travel order to demonstrate that unauthorized individuals cannot approve or authenticate.
This approval was based on the fact that (1) CEFMS was fully deployed and validated by the AAA, (2) independent validation confirmed that all corrective actions were completed, and (3) the MOA for valuation for older PPE assets was in place.
Part of our challenge during that time was developing and deploying CEFMS. After we fully deployed the system, the GAO auditing standards changed, thereby requiring a change in auditing agency to provide additional assurance of independence.
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.
CEFMS is the single biggest factor in USACE audit success.
During the USACE FY 2008 audit, however, auditors spent little time testing this key control because the segregation of duties was hard-coded, or embedded, in CEFMS. In fact, CEFMS was developed to prevent one person from performing all critical system steps related to the procurement of goods or services (that is, purchase request, obligation creation, receipt of the goods or services, and disbursement).
USACE: CEFMS includes a broad range of functionality and integrates Corps financial management with its programmatic counterparts.
CEFMS is the primary source of our financial statements and upward reporting requirements necessary to comply with the CFO Act.