Video: Coast Guard Receives Clean Financial Audit
The Coast Guard announced the 2013 audited DHS annual financial report results, Dec. 13, 2013, and for the first time the Coast Guard and the Department of Homeland Security have received a clean, unqualified audit opinion. This is a significant milestone for the Coast Guard. A clean opinion indicates that an independent auditor has reviewed the financial statements and found them to be in full compliance with applicable laws and accounting standards. The Coast Guard is the first armed service to accomplish the achievement. The Coast Guard accounts for almost half of the asset value and one quarter of the annual obligations and financial statement activity in the consolidated DHS financial statements. The wide range of missions, complex business activities, and the age and quantity of Coast Guard property makes the task of producing auditable financial statements a significant challenge. Available in High Definition.