1. 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
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FINANCIAL MANAGEMENT SCHOOL 1

2. 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
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FINANCIAL MANAGEMENT SCHOOL

3. WHY IS THE ARMY UNDER AUDIT?
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4. FINANCIAL MANAGEMENT SCHOOL
WHAT IS AN AUDIT?
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5. FINANCIAL MANAGEMENT SCHOOL
AUDIT OPINIONS
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6. FINANCIAL MANAGEMENT SCHOOL
2018 AUDITOR’S REPORT
Fiscal Year 2018 United States Army Annual Financial Report
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FINANCIAL MANAGEMENT SCHOOL

7. WHAT IS A SUCCESSFUL AUDIT?
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8. WHERE DOES AUDIT SUCCESS START?
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9. FINANCIAL MANAGEMENT SCHOOL
KEY INTERNAL CONTROLS
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10. KEY SUPPORTING DOCUMENTATION
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11. RESPONDING TO AUDITOR REQUESTS
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12. STRONG INTERNAL CONTROLS WILL HELP ARMY PASS AUDIT
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FINANCIAL MANAGEMENT SCHOOL

13. 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
5/24/2019
FINANCIAL MANAGEMENT SCHOOL