NAVY AGENCY FINANCIAL REPORTS: AN INTERNAL CONTROL ANALYSIS
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Authors
McGivern, Hannah S.
Subjects
Agency Financial Reports
audit
contract management
material weaknesses
Internal Control Framework
Department of the Navy
auditor recommendations
Committee on Sponsoring Organizations of the Treadway Commission
COSO
audit
contract management
material weaknesses
Internal Control Framework
Department of the Navy
auditor recommendations
Committee on Sponsoring Organizations of the Treadway Commission
COSO
Advisors
Rendon, Rene G.
Rendon, Juanita M.
Date of Issue
2024-06
Date
Publisher
Monterey, CA; Naval Postgraduate School
Language
Abstract
This capstone research study aims to provide an in-depth analysis of the Navy Agency Financial Reports (AFRs), with a specific focus on internal control material weaknesses identified by external auditors. This study also specifically analyzes the auditor recommendations for contract management, seeking to identify the extent to which the Navy contractors contribute to internal control deficiencies. Furthermore, this research aligns the identified material weaknesses with the COSO internal control framework components. This seeks to identify the specific internal control components that contribute to these material weaknesses. The contract management material weakness was briefly discussed by identifying internal control deficiencies that contributed to the material weaknesses and the recommendations made by the external auditors. Through both qualitative and quantitative methodologies, this study aims to identify insights related to the Navy’s financial controls and contract management. This research study’s goal is to present recommendations to enhance the Navy’s internal control program. This study contributes to the existing literature by addressing critical gaps in understanding the connection between internal control material weaknesses, contractor management, and their alignment with established control frameworks. This study may serve as a valuable resource for policymakers and practitioners in the realm of government financial management and contracting.
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Thesis
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Distribution Statement
Distribution Statement A. Approved for public release: Distribution is unlimited.
Rights
This publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. Copyright protection is not available for this work in the United States.