Accession Number : ADA321756
Title : Defense Contract Management.
Corporate Author : GENERAL ACCOUNTING OFFICE WASHINGTON DC OFFICE OF THE COMPTROLLER GENERAL
PDF Url : ADA321756
Report Date : FEB 1997
Pagination or Media Count : 29
Abstract : Improvement and simplification of the Department of Defense's (DoD) contract payment system is imperative. If DoD does not achieve effective control over its payment process, DoD's Defense Finance and Accounting Service (DFAS) will continue to risk overpaying contractors millions of dollars. Further, failure to reform the payment system perpetuates other financial management and accounting control problems and increases the administrative burden of identifying and correcting erroneous payments and their associated costs. DoD is aware of the seriousness of its payment problems and is taking steps to address them. This report discusses the high risks in contract management that the Department of Defense continues to face, despite improvements in selected areas.
Descriptors : *DEPARTMENT OF DEFENSE, *FINANCIAL MANAGEMENT, *CONTRACT ADMINISTRATION, RISK, ACCOUNTING, CONTRACTORS, COSTS, FINANCE.
Subject Categories : Administration and Management
Economics and Cost Analysis
Military Forces and Organizations
Logistics, Military Facilities and Supplies
Distribution Statement : APPROVED FOR PUBLIC RELEASE