Despite the technical improvements made in many Federal IT programs, the Federal IT workforce often still lacks the foundational project management skills necessary for project and program success. Time and again, we see large-scale projects fail. However, with the right project management training, skills, and tools, IT projects can yield effective results. Leadership, communication, understanding […]
Read MoreAccumulating costs for the purposes of properly capitalizing assets can be very challenging for agencies with large complex acquisitions. For agencies like DoD and NASA, asset capitalization can be especially difficult. In fact, appropriately valuing assets is one of the most significant challenges to audit readiness. The Federal Accounting Standards Advisory Board’s (FASAB) most recent […]
Read MoreHow much evidence is enough? Is this a question answered by using “professional judgment?” Unfortunately there is no formula in the Yellow Book – or anywhere else for that matter — that answers these questions. So … how do we know? The Yellow Book (para. 6.67) says: “Sufficiency is a measure of the quantity of evidence used […]
Read MoreIn an era of constrained Federal budgets, the Department of Defense (DoD) faces increased scrutiny into how it spends and accounts for the large financial resources it utilizes to defend our nation. A major challenge for DoD has been achieving auditable financial statements. The DoD remains the sole cabinet level agency to have not received […]
Read MoreAuditors: trained cynics or professional skeptics? I’ve heard spouses of longtime auditors accuse their mates of becoming trained cynics. You know how it goes: An auditor walks in the front door at home after a long day of rooting out fraud, waste, and mismanagement and immediately comments on the fact that the living room easy […]
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