Skip to main content (Press Enter).
 News
    
        Photos

    Week in Photos

    Air Force TV

    Commentaries

    Features

    Art

    About Us
    
        Air Force Senior Leaders
    
        SECAF

    CSAF

    CMSAF

    Biographies

    Fact Sheets

    SECAF Reading List

    CSAF Leadership Library
    
        CSAF Leadership Library 2022

    CSAF Leadership Library 2021

    CSAF Reading List Pre-2020 Archive
    
        2018 CSAF Reading List

    2017 CSAF Reading List

    2016 CSAF Reading List

    CSAF Leadership Library 2023

    CMSAF Leadership Library

    50 Years of the CMSAF

    Adjunct Professors

    Air Force Strategic Documents

    Arctic Strategy

    Empowered Airmen

    State Licensure Portability

    Careers

    AF Federal Advisory Committees

    AF 75th Anniversary

    Policy Updates

    AF Content Management

    Contact Us

    AF Sites
    
        Site RegistrationU.S. Air Force LogoAir Force

        Policy UpdatesNewsroomReoptimizationBIOGRAPHIESAF Senior Leaders      DAF completes 4th Annual Financial Statement Audit, demonstrates significant audit progressPublished Nov. 16, 2021
                    
                    
                    Secretary of the Air Force Public Affairs
            **WASHINGTON (AFNS) --**The Department of the Air Force (DAF) is flying high after the completion of its fourth year under full financial audit. While the Independent Public Accountant (IPA) issued a “Disclaimer of Opinion” again for Fiscal Year 2021 (FY21), significant progress was made to move closer toward a clean audit opinion.
Every year since 2018 the IPA has reviewed the DAF’s financial statements and systems to provide detailed findings, some of which aggregate into major issues or material weaknesses (MWs) that impede a clean audit opinion. FY21 marked a major audit achievement, the DAF led Department of Defense (DOD) reporting entities by downgrading two MWs and closing a third a full year ahead of schedule.
“While we understand and fully appreciate that there is still a long way to go, the progress we made this past year should be celebrated,” said **Stephen Herrera**, Acting Assistant Secretary of the Air Force for Financial Management and Comptroller. “This year’s audit outcomes are a testament to the amazing work being done by our Airmen and Guardians, and their dedication toward improving financial management practices.”
Fueling those MW downgrades/closures was the work done by the DAF to address a significant number of high impact findings issued by the auditor. In FY21, the DAF closed 32% of its open audit findings, an increase from the previous year in which the DAF led DOD in closure rate.
“Now entering our fifth year under audit, DAF leadership is growing more eager to demonstrate to both Congress and the American taxpayer the full impact having a clean set of books can have on our mission,” Herrera said. “So much so that, in FY21, we refined our approach that not only paved the way for a highly successful year, but set us up to sustain this momentum moving forward.”
At the beginning of the year, the DAF enhanced its audit approach by developing real-time tracking capabilities, supported by integrated master schedules, to facilitate risk-based discussions from top to bottom. These efforts will be critical for the DAF to attain its stated goals of achieving a clean audit opinion on its General Fund and Working Capital Fund by FY26 and FY28, respectively.
“Change, as a result of the audit, its findings, and the corrective actions developed to reduce deficiencies, continues to provide the DAF with immense benefits,” Herrera said. “Ultimately, through the audit, the DAF is becoming better stewards of taxpayer dollars, better spenders by improving asset management, better protected by identifying and reducing cyber vulnerabilities, and better informed through more accurate, complete, and timely data.”LOE 



USAF 



AF 



Air Force 



financial statement 



audit 



accountant 



FY21 



fiscal year 2021 



independent public accountant Featured News
        Senior Leader Priorities
                Kendall, Allvin, Saltzman urge modernization while warning Senate of delayed budgets
                    
                    Readout of Secretary of the Air Force Frank Kendall’s travel to the Philippines
                    
                    Air Force senior leaders visit Eielson AFB
                    
                    Air Force leaders focus on ACE during Kadena AB visit
                    
                    USAF senior leaders visit Mariana Islands on ACE tripInnovation
                F-16s arrive to be modified for autonomous testing
                    
                    AFWERX director discusses role of tech startups, quick innovation in Great Power Competition
                    
                    DAF delivers lethality at the speed of data during Project Convergence Capstone 4
                    
                    DAF welcomes industry partners to HQ development program
                    
                    DAF announces Spark Tank 2024 finalistsMAJCOM News
                Cope Tiger concludes in Thailand
                    
                    Safety enterprise announces new mission, vision, goals in 2024 strategic plan
                    
                    Air Combat Command welcomes new commander
                    
                    USAFE-AFAFRICA commander discusses Integrated Air, Missile Defense during Munich Security Conference
                    
                    Flosi to AFMC family: Embrace change, make every day count
 Quick Links
AccessibilityContact UsEqual OpportunityFOIA | Privacy | Section 508Information QualityInspector GeneralJAG Court-Martial DocketLink DisclaimerNo FEAR ActOpen GovernmentOSI Tip LinePlain LanguageQuestionsResilienceRSSSite MapVeterans Crisis LineCareers
Join the Air ForceAir Force BenefitsAir Force CareersAir Force ReserveAir National GuardCivilian ServiceConnect
            Get Social with Us
            
            Official United States Air Force Website
    Hosted by Defense Media Activity - WEB.mil