Don’t believe the Pentagon is capable of not only accounting for its present year’s spending but the aggregate of materiel and expenditure on its books from past years.
Boldly matching their record for military success, the DoD continues to cook the books it can’t balance.
The Pentagon on Friday failed its seventh audit in a row, with the nation’s largest government agency still unable to fully account for its more than $824 billion budget, though officials stress they are making good progress toward a clean audit in 2028.
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The goal is to earn an unmodified audit opinion, or a clean audit that says the financial statements are accurate. A qualified opinion says there are omissions and concerns but the finances are generally reliable.
Under Secretary of Defense Comptroller and Chief Financial Officer Michael McCord said that despite the disclaimer of opinion, which he expected, the Defense Department “has turned a corner in its understanding of the depth and breadth of its challenges.”
“Momentum is on our side, and throughout the Department there is strong commitment—and belief in our ability—to achieve an unmodified audit opinion,” he said in a statement.
The Defense Department’s report card as a whole is made up of 28 entities operating under the Pentagon that conducted independent audits.
Of those, nine received an unmodified audit opinion, one received a qualified opinion, 15 received disclaimers and three opinions remain pending. The Pentagon expects the final number of clean or qualified audits to be roughly around what it was last year.
More here: https://nypost.com/2024/10/29/business/boeing-charged-air-force-150k-for-soap-dispensers-watchdog/
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