Question

According to DoD FMR 7000.14R, What are DoD Component Heads or their designees required to do?

Answer 1

DoD Component Heads or their designees are required to ensure proper controls, establish systems for financial information, designate qualified personnel, review policies and ensure compliance.

Step-by-step explanation:

According to DoD FMR 7000.14R, DoD Component Heads or their designees are required to:

1. Ensure that proper controls and procedures are in place for financial management.
2. Establish and maintain systems to provide reliable and timely financial information.
3. Designate qualified personnel to be responsible for financial management activities.
4. Review and approve financial policies and procedures.
5. Ensure compliance with financial laws and regulations.