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Pentagon Announces First-Ever Audit Of The Department Of Defense
[NPR] "The Defense Department is starting the first agency-wide financial audit in its history," the Pentagon's news service says, announcing that it's undertaking an immense task that has been sought, promised and delayed for years.Of the tally that is starting this week, chief Pentagon spokesperson Dana W. White said, "It demonstrates our commitment to fiscal responsibility and maximizing the value of every taxpayer dollar that is entrusted to us." "Beginning in 2018, our audits will occur annually, with reports issued Nov. 15," the Defense Department's comptroller, David L. Norquist, said. The Defense Department has famously never been audited, despite receiving hundreds of billions of dollars annually and having more than $2.2 trillion in assets. For the Pentagon to get to this point, it has been, as they say, a process. The U.S. government established requirements for each agency to present financial statements back in the 1990s. But for more than 20 years, the Department of Defense has lagged other agencies that were following modern accounting standards, reporting what they received and spent. Posted by: Besoeker 2017-12-09 |
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