DVRS – News – Financial Excellence and Responsibility Demonstrated at NMCSD

Naval Medical Center San Diego (NMCSD) completed a full financial audit demonstrating transparency, accountability and success in ensuring effective use of resources, on May 17.

Over the past few weeks, Naval Medical Center San Diego has worked with financial experts from the Defense Health Agency’s Financial Reporting and Compliance (FRC) team and other DHA representatives to prepare for an internal control review by the Independent Public Accountant, Kearney and Company .

Kearney is a certified public accounting firm specializing in the federal government’s financial operations and compliance with accountability standards. This venture is designed to analyze business operations at select DHA military treatment facilities to understand their impacts on DHP Fiscal Year 2024 Financial Statements.

“In today’s dynamic environment, the importance of the audit process cannot be underestimated,” said the Commander. Jody Phillips, NMCSD director of resource management. “The objective of the financial audit is predetermined and not defined by the audit organization. The general objective is to provide an opinion on whether the financial statements are presented fairly in all material respects.”

Auditing requirements, policies, and guidance are issued by Congress, the Government Accountability Office (GAO), OMB, and the President’s Council on Integrity and Efficiency. Specifically, standards for financial audits are derived from the Generally Accepted Auditing Standards (GAAS) issued by the GAO, as well as the GAAS issued by the American Institute of Certified Public Accountants.

With these standards in mind, the site visit presents the hospital with the opportunity to show how well the execution of business processes aligns with these fiscal policies. The FR&C team helped navigate this process to assess the current state of operations and highlight areas for compliance improvement. After reviewing the evidence and work products produced in the sessions, best practices will be shared with the rest of DHA for reference and guidance.

“In addition to achieving the intended objective of analyzing the impact of the MTF level on DHP’s Financial Statements, the audit process is important for other reasons,” said Phillips. “At the forefront of the audit process is maintaining accountability to our stakeholders, taxpayers and patients. As stewards of fiscal resources, it is increasingly important that DHA MTFs maintain strict adherence to fiscal standards. This process ensures that NMCSD is doing its part to maintain effectiveness in business operations by maintaining high levels of accountability and protecting funds from fraud, waste and abuse. This aggregate-level process ensures efficiency and transparency of operations.

“Thanks to the hard work of the NMCSD finance and logistics teams, in collaboration with visiting groups from DHA and IPA, this was a successful evolution in line with a high reliability organization,” said Phillips. “NMCSD leadership is confident that the hospital is engaging in sound business practices to ensure the optimal allocation of resources for its beneficiaries and taxpayers. NMCSD thanks all participants for their dedication and professionalism in this effort and looks forward to continuing the partnership toward to a clean financial opinion.”

NMCSD’s mission is to provide a superior experience for our employees, patients and warfighters; and, to provide exceptional care ashore and ashore, while being the preferred choice and leader in compassionate and innovative healthcare. NMCSD employs more than 5,000 military, civilian and active-duty providers in Southern California to provide patients with world-class care anytime, anywhere. (U.S. Navy story by Lt. Nathaniel Masson)

PUBLIC DOMAIN

This work, Financial Excellence, Responsibility Demonstrated at NMCSD, must comply with the restrictions indicated in https://www.dvidshub.net/about/copyright.

Source