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Title : Pentagon's 2nd Audit Has Been Completed
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Pentagon's 2nd Audit Has Been Completed
The Pentagon's audit continues to churn through the department's inventory. (U.S. Army photo by Jason W. Edwards)
Bloomberg: Pentagon Progress in New Audit Undercut by Worsening Shortfalls
(Bloomberg) -- The U.S. Defense Department said its second consecutive financial audit documented incremental progress tracking $2.9 trillion in assets and correcting hundreds of serious deficiencies, but the department’s watchdog said there’s still too little information about how taxpayer money is spent.
Like last year, the latest review of the Pentagon’s books cost nearly $1 billion, including $500 million for remediation of existing deficiencies, $250 million for setting up the infrastructure to conduct audits and $195 million in auditor fees. More than 1,400 auditors were deployed on the project to track spending on everything from F-35 jet parts to Navy real property, commissary operations
More than 1,400 auditors were deployed on the project to track spending on everything from F-35 jet parts to Navy real property, commissary operations and Army pay operations.
The audit founds no evidence of fraud or abuse and in many cases documented that serious deficiencies uncovered last year have been remedied, Pentagon officials said.
Read more ....
Update #1: The Pentagon completed its second audit. What did it find? (Defense News)
Update #2: Pentagon gets failing grade in its second audit (Reuters)
WNU Editor: This is what is being audited .... The Department of Defense has 3 million employees in 160 countries at more than 4,500 sites on 30 million acres of land.
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The Pentagon's audit continues to churn through the department's inventory. (U.S. Army photo by Jason W. Edwards)
Bloomberg: Pentagon Progress in New Audit Undercut by Worsening Shortfalls
(Bloomberg) -- The U.S. Defense Department said its second consecutive financial audit documented incremental progress tracking $2.9 trillion in assets and correcting hundreds of serious deficiencies, but the department’s watchdog said there’s still too little information about how taxpayer money is spent.
Like last year, the latest review of the Pentagon’s books cost nearly $1 billion, including $500 million for remediation of existing deficiencies, $250 million for setting up the infrastructure to conduct audits and $195 million in auditor fees. More than 1,400 auditors were deployed on the project to track spending on everything from F-35 jet parts to Navy real property, commissary operations
More than 1,400 auditors were deployed on the project to track spending on everything from F-35 jet parts to Navy real property, commissary operations and Army pay operations.
The audit founds no evidence of fraud or abuse and in many cases documented that serious deficiencies uncovered last year have been remedied, Pentagon officials said.
Read more ....
Update #1: The Pentagon completed its second audit. What did it find? (Defense News)
Update #2: Pentagon gets failing grade in its second audit (Reuters)
WNU Editor: This is what is being audited .... The Department of Defense has 3 million employees in 160 countries at more than 4,500 sites on 30 million acres of land.
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