Naval Audit Readiness and You

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By Karen Fenstermacher
Deputy Assistant Secretary of the Navy (Financial Operations)

Every day, hundreds of thousands of dedicated Navy personnel work together to achieve critical goals on shore and at sea. We deploy to conflict zones. We engage in humanitarian operations. We push our limits. And behind these efforts are the ships, submarines, aircraft, facilities and infrastructure, technology, and other resources that allow us, the people of the U.S. Navy, to do what we do.

But behind those resources, there’s something even more fundamental. So fundamental, you probably don’t think about it on a day-to-day basis. It’s our finances.

MEDITERRANEAN SEA (July 9, 2015) USS Ross (DDG 71) receives supplies from the Military Sealift Command fleet replenishment oiler USNS Bighorn (T-AO 198) during an underway replenishment. (U.S. Navy photo by Mass Communication Specialist 3rd Class Robert S. Price/Released)
MEDITERRANEAN SEA (July 9, 2015) USS Ross (DDG 71) receives supplies from the Military Sealift Command fleet replenishment oiler USNS Bighorn (T-AO 198) during an underway replenishment. (U.S. Navy photo by Mass Communication Specialist 3rd Class Robert S. Price/Released)

Every year, Congress appropriates taxpayer money to support Navy operations, and we use that money to buy supplies, outfit our ships, procure new equipment and pay our people. It’s that money that sustains our readiness to meet any mission. And it’s more important than ever that we demonstrate to Congress and the American people that we’re holding ourselves accountable and managing that money wisely.

Ensign Jarrett Seibel, disbursing officer aboard the guided-missile cruiser USS Hue City (CG 66) credits money to Yeoman 2nd Class Jorge Esparza's Navy Cash Card. (U.S. Navy photo by Mass Communication Specialist Seaman Darien G. Kenney/Released)
U.S. 5TH FLEET AREA OF RESPONSIBILITY (Sept. 13, 2012) Ensign Jarrett Seibel, disbursing officer aboard the guided-missile cruiser USS Hue City (CG 66) credits money to Yeoman 2nd Class Jorge Esparza’s Navy Cash Card. (U.S. Navy photo by Mass Communication Specialist Seaman Darien G. Kenney/Released)

As a part of that effort, we are about to undergo our first full financial statement audit. In September, a public accounting firm will assess the Navy’s financial statements, transactions, internal controls and IT systems to determine whether we have accurately accounted for the funding we receive and spend.

Sailor or civilian, admiral or ensign, seaman or chief petty officer, the audit affects every one of us. Our money drives our resources, our resources drive our people, and our people drive our mission. Further, reliable financial information can serve as a valuable tool to help commands, program managers and senior executives make informed decisions and strengthen mission readiness. And just as we work together to support each other, it’s important that we work together to support the audit!

Office of Financial Operations is launching a new series of audit readiness training videos that will outline your role in the audit across nine key business areas. They’ll explain the audit concepts you need to know, show you how to prepare and tell you what to expect when the audit begins.

Visit the the audit readiness website to watch the videos that apply to you, find reference materials for further review, and earn up to two CET credits. And don’t forget to play the immersive knowledge check – I challenge you to beat my high score as we all prepare for the audit that will help sustain our readiness in the fleet and beyond.

Sailors move stores during a working party in the hangar bay of the aircraft carrier USS Dwight D. Eisenhower (CVN 69). The ship is pierside following a deployment to the U.S. 5th and 6th Fleet areas of operation. (U.S. Navy photo by Mass Communication Specialist Seaman Zach Sleeper/Released)
NORFOLK (Feb. 2, 2017) Sailors move stores during a working party in the hangar bay of the aircraft carrier USS Dwight D. Eisenhower (CVN 69). (U.S. Navy photo by Mass Communication Specialist Seaman Zach Sleeper/Released)

We’re all accountable for the Navy’s resources. When we work together toward sound financial stewardship, audit preparation becomes a part of the way we do business every day. And that makes us a stronger team, a stronger Navy and a more powerful force around the globe.


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Naval Audit Readiness and You

Worth A Thousand Words: Hey, Sugar!

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Photo: A Soldier from Angel Company, 3rd Battalion, 187th Infantry Regiment, 3rd Brigade Combat Team “Rakkasans,” 101st Airborne Division (Air Assault) embraces his daughter after a Welcome Home Ceremony, Mar 1, 2013 at the Fort Campbell Army Airfield, Fort Campbell, Ky. The majority of Angel Company returned after about six months rather than the full nine months due to the progress of Afghan Security Forces in their area of responsibility, who are now conducting operations independently. U.S. Army photo by Sgt. Alan Graziano

A soldier assigned to Company A, 3rd Battalion, 187th Infantry Regiment, 3rd Brigade Combat Team “Rakkasans,” 101st Airborne Division (Air Assault) embraces his daughter after a homecoming ceremony at the Fort Campbell Army Airfield on Fort Campbell, Ky., Mar 1, 2013. The majority of Company A returned after about six months rather than the full nine months due to the progress of Afghan forces in their area of responsibility. U.S. Army photo by Sgt. Alan Graziano

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Worth A Thousand Words: Hey, Sugar!