Financial Management: May 2004 Archives

20 May 2004: NASA's bookkeeping system still won't fly, Orlando Sentinel

"Nearly 2 1/2 years after NASA chief Sean O'Keefe vowed to straighten up the agency's bookkeeping, the effort continues to struggle. "It may be years before NASA can get a clean audit," said Robert Cobb, the agency's inspector general, during a hearing Wednesday of a subcommittee of the House Government Reform Committee."

19 May 2004: NASA systems: Houston, we have a problem, GCN News

"NASA's has bungled its $982.7 million enterprise resource planning system project in a way that caused the agency to lose track of $2 billion in its Treasury Department account and forced it to adjust its books, witnesses told a House committee this afternoon."

19 May 2004: Mission Impossible? Fixing NASA's Financial Management, House Government Reform Committee

"The Government Reform Subcommittee on Efficiency and Financial Management will hold an oversight hearing to look at problems with financial management at NASA, where recent audits have revealed serious problems."

18 May 2004: Updated NSSC Site Seletion Process and Q&A 01

18 May 2004: NASA Shared Services Center Industry Day, NASA

"NASA will hold a two-day industry day to provide an overview and current status of the NSSC acquisition and to provide a forum for potential offerors to get information and meet with representatives from the six possible sites for the NSSC. Industry day will be held June 2-3, 2004."

14 May 2004: NASA's finances in disarray; auditor quits, Reuters

"PriceWaterhouseCoopers and NASA parted ways earlier this year, according to the space agency's inspector general, Robert Cobb. PriceWaterhouseCoopers declined to comment, but a source familiar with the situation said the audit firm opted out of the contract because it was unhappy with the relationship."

3 May 2004: NASA, We Have a Problem
Can Gwendolyn Brown fix the space agency's chronic financial woes?

"Two weeks later, troubling new doubts were raised about NASA's financial management. PricewaterhouseCoopers, the agency's auditor, issued a disclaimed opinion on NASA's 2003 financial statements. PwC complained that NASA couldn't adequately document more than $565 billion - billion - in year-end adjustments to the financial-statement accounts, which NASA delivered to the auditors two months late. Because of "the lack of a sufficient audit trail to support that its financial statements are presented fairly," concluded the auditors, "it was not possible to complete further audit procedures on NASA's September 30, 2003, financial statements within the reporting deadline established by [the Office of Management and Budget]."



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This page is an archive of entries in the Financial Management category from May 2004.

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