Therefore, it is imperative that DoD swiftly resolves its outstanding financial management issues and achieves an audit-ready state as outlined by the Financial Improvement and Audit Readiness
This approach was contrary to DoD's "5 Wave Strategy" first articulated in the May 2010 Financial Improvement and Audit Readiness
(FIAR) Plan Status Report (the final wave was the valuation of legacy assets).
Financial Improvement and Audit Readiness
(FIAR) should be a familiar term to the Supply Corps community.
Thus, personnel from the Office of the Assistant Secretary of the Navy (Financial Management and Comptroller) Office of Financial Management (ASN (FM&C) FMO and DON Chief Information Officer have been working closely with senior leadership from their respective organizations, as well as the Office of the Secretary of Defense Financial Improvement and Audit Readiness
(OSD FIAR), DoD CIO, and representatives from the other services in order to align requirements, milestones, resources, and time tables.
The push for revalidation of dependent documentation comes as the Air Force prepares to meet financial improvement and audit readiness
requirements laid out in the 2010 National Defense Authorization Act.
What is the financial improvement and audit readiness
It is integrated into the DOD-level financial improvement and audit readiness
plan, a living document that is dynamic to the ever-changing needs of the Air Force and the Department of Defense business transformation.
DFAS then undertakes a very rigorous pre-assertion process in accordance with the Financial Improvement and Audit Readiness
(FIAR) guidance to ensure processes are documented, tested, and any remediation activities corrected before ultimately asserting the mission area is ready for independent audit.
Whether it is an operational or a financial process, we must "test and refine concepts through focused war gaming, modeling, and simulations." That statement captures our Financial Improvement and Audit Readiness
While the DON comptroller is responsible for the department's financial statements and Financial Improvement and Audit Readiness
(FIAR) Plan, achieving audit readiness requires support from functional leaders across the department, especially the information technology community.