Secretary of Defense Lloyd Austin “feels we need to be doing better at this and moving faster,” but a successful audit is still years away, he added.
Federal law since the early 1990s requires mandatory audits for all government agencies. The Pentagon didn’t begin auditing itself until 2018 and has only had incremental improvement yearly.
This time around, 1,600 auditors combed through DOD’s $3.8 trillion in assets and $4 trillion in liabilities, conducting some 700 site visits. They found that half of DOD’s assets can’t be accounted for.
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Article URL : https://thehill.com/policy/defense/4313887-pentagon-fails-sixth-audit-in-a-row/