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Another Year, Another Failed Pentagon Audit
Key Excerpts from Article on Website of Yahoo News
Posted: February 6th, 2023
https://www.yahoo.com/now/another-another-failed-pentagon-au...
The Department of Defense underwent its fifth annual financial audit this year, and for the fifth time in a row, it failed. This year’s audit involved a team of 1,600 analysts who visited 220 sites in person and 750 sites virtually as they reviewed the Pentagon’s $3.5 trillion in assets and $3.7 trillion in liabilities. The overall audit was broken down into 27 units, of which nine received “clean” or passing grades, one received a modified grade, which can pass once an identified issue is resolved, and the rest received disclaimers due to a lack of complete data. The cost of the audit was estimated to be $218 million. Defense Department Comptroller Mike McCord said the results were similar to last year’s. “We failed to get an ‘A’,” he told reporters earlier this week. “The process is important for us to do, and it is making us get better. It is not making us get better as fast as we want.” McCord said he expects to see steady improvement in the use of financial controls at the Pentagon, but there are still challenges ahead. “Valuing properties is probably the hardest thing for us to do,” he said. Dive into the fiscal year 2022 Defense Department audit here.
Note: Every company is expected to account for every dollar spent, yet the largest branch of government cannot account for literally trillions of dollars. Read other major media news articles showing incredible corruption in the Department of Defense to the tune of trillions of dollars. For more along these lines, see concise summaries of deeply revealing news articles on military corruption from reliable major media sources.
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