Pentagon fails its inaugural audit

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Intersting...

Pentagon fails its inaugural audit
“Some of the compliance issues are irritating to me. ... The point of the audit is to drive better discipline in our compliance with our management systems and procedures,” Shanahan added.

The review found inventory discrepancies and that the Pentagon thought it owned certain buildings and installations that it no longer owns.

With approximately $2.8 trillion in total assets, accounting for over 70 percent of the U.S. government’s total, the FY 2018 DoD consolidated audit includes over 20 standalone audits. It’s arguably one of the largest and most complex financial statement audits ever undertaken.

The result: The Pentagon came up short.

Shanahan says just completing the audit is a huge accomplishment. “Everybody was betting against us — that we wouldn't even do the audit,”

“If we want to reduce defense waste, have greater transparency over defense dollars, and eliminate mismanagement, it is essential that we get the Defense Department to a position where Congress, taxpayers, and DOD itself can track and account for the money that is being used,” Smith said. “The results in this report show exactly why it is so important that we continue to press forward with that effort.”
https://www.washingtonexaminer.com/pentagon-fails-first-ever-audit-and-thats-a-good-thing
 
Interesting...

I agree that an audit of the entire DoD... is a good place to start in cleaning up waste!

Sounds like the current administration, as usual, is bringing good business practices to govt!
Imagine that... a successful businessman making govt work better!!!

(Will not make any comments about career polecats... grin)
 
I’m sure billions in discarded military equipment can found at the bottom of the ocean and buried in the sands of the Middle East.
 
I’m sure billions in discarded military equipment can found at the bottom of the ocean and buried in the sands of the Middle East.
I found it more interesting they thought they owned certain buildings and installations that they no longer own... where did the money for the sale of the property go? Do they know? Who authorized these sales?

I know nothing about it, those are just questions that I would hope some writer or reporter would dig into. Of course that will only happened if it was sold to Donald Trump!:ninja: ... by the Russians!:rofl: :grin2:
 
I wonder...

The previous administration was not exactly pro military... as we all know...
I wonder... if some of the assets which the military thought they owned... well...
We know the former Sec/State under that administration was not exactly honest in their dealings...
But we could never hold 'her' accountable, now could we???
 
Audits of the Military and/or the intelligence branches are *never* going to balance. Too many "Black" projects that they will not/cannot disclose by having it be a line item in the budget.
 
Audits of the Military and/or the intelligence branches are *never* going to balance. Too many "Black" projects that they will not/cannot disclose by having it be a line item in the budget.

Yes... I am sure that is true...

However IMO an audit is a good place to start trimming the fat.

I wonder if this is a trial run to see if a procedure can be established...
If a procedure is established... it could be used throughout the govt... which IMO would be a good thing!
 
I am not surprised at all. If the Pentagon had passed,,, I would strongly suspect that someone cooked the books!!!!!
 
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