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Nov
21
Defense Dept is now the ONLY federal government agency to flunk its audit
Filed Under Latest News & Scandals
Since the CFO Act was enacted in 1990, the federal government has been making steady progress on tracking where federal dollars go. This process of obtaining clean audits on federal dollars is an important part of budget transparency and the ability to at least understand what we are buying for our tax dollars. Today, 23 of 24 departments can pass their financial audits.
The Department of Defense has flunked its audit every year, and today has the dubious distinction of being the ONLY remaining federal government to still fail to be able to track where its money is spent. The Pentagon’s lack of auditable financial records is one of the reasons why it is so difficult to estimate the true costs of war.
Read the OMB press release:
http://www.whitehouse.gov/blog/2011/11/18/audits-records-broken
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