DEFINE AUDIT READINESS SHOW SLIDE 1: Define Program Budget Advisory Committee and Working PBAC Process Section I. Administrative Data Academic Hours/Methods 1 hr Small Instruction Section II. Introduction: Today we are going to discuss the Program Budget Advisory Committee. Method of Instruction: Conference/Discussion Instructor to Student Ratio: 1:16 Time of Instruction: 5 mins Media: Small or Large Group Instruction Motivator: In today’s environment of reduced resources, the commander is faced with a significant challenge – do more with less. Stretching resources requires careful planning and implementation. This is especially true at the installation level. The installation is the lowest operating level charged with the responsibility for obtaining and making timely allocations of resources. The resources allow the installation and the units assigned to the installation to accomplish their missions, thereby contributing to the accomplishment of the overall Army mission. While obtaining the necessary resources, commanders are constantly faced with changes, be they internal; changes in mission or support requirements, or external; changes due to legislative action, environmental impact or community relations. All of these changes effect the day-to-day operation of the installation, as well as, the resources required. With all the factors that effect resources at the installation, it is essential for continuous coordination between the key players involved in the day-to-day operations. That coordination is accomplished by the Program and Budget Advisory Committee (PBAC). Define PBAC – Training Development Directorate, SSI 4/18/2019 FINANCIAL MANAGEMENT SCHOOL 1

TERMINAL LEARNING OBJECTIVE Task: Define Audit Readiness Conditions: FM Leaders in a classroom environment working individually and as a member of a small group, using doctrinal and administrative publications, self-study exercises, personal experiences, practical exercises, and discussion Standards: Students must be able to: Define the purpose of an audit Understand their role and functions as a Financial Manager in the audit process Explain the importance of timely and accurate documentation to achieve an audit opinion Explain the different types of audit opinions 4/18/2019 FINANCIAL MANAGEMENT SCHOOL

WHY IS THE ARMY UNDER AUDIT? 4/18/2019 FINANCIAL MANAGEMENT SCHOOL

FINANCIAL MANAGEMENT SCHOOL WHAT IS AN AUDIT? 4/18/2019 FINANCIAL MANAGEMENT SCHOOL

FINANCIAL MANAGEMENT SCHOOL AUDIT OPINIONS 4/18/2019 FINANCIAL MANAGEMENT SCHOOL

FINANCIAL MANAGEMENT SCHOOL 2018 AUDITOR’S REPORT Fiscal Year 2018 United States Army Annual Financial Report 4/18/2019 FINANCIAL MANAGEMENT SCHOOL

WHAT IS A SUCCESSFUL AUDIT? 4/18/2019 FINANCIAL MANAGEMENT SCHOOL

WHERE DOES AUDIT SUCCESS START? 4/18/2019 FINANCIAL MANAGEMENT SCHOOL

FINANCIAL MANAGEMENT SCHOOL KEY INTERNAL CONTROLS 4/18/2019 FINANCIAL MANAGEMENT SCHOOL

KEY SUPPORTING DOCUMENTATION 4/18/2019 FINANCIAL MANAGEMENT SCHOOL

RESPONDING TO AUDITOR REQUESTS 4/18/2019 FINANCIAL MANAGEMENT SCHOOL

STRONG INTERNAL CONTROLS WILL HELP ARMY PASS AUDIT 4/18/2019 FINANCIAL MANAGEMENT SCHOOL

TERMINAL LEARNING OBJECTIVE Task: Define Audit Readiness Conditions: FM Leaders in a classroom environment working individually and as a member of a small group, using doctrinal and administrative publications, self-study exercises, personal experiences, practical exercises, and discussion Standards: Students must be able to: Define the purpose of an audit Understand their role and functions as a Financial Manager in the audit process Explain the importance of timely and accurate documentation to achieve an audit opinion Explain the different types of audit opinions 4/18/2019 FINANCIAL MANAGEMENT SCHOOL