Far West
Pursuit Driver
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
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