Pentagon can’t account for $220 billion in gov’t property, fails fifth audit

A Tuesday report by the Government Accountability Office revealed that the Department of Defense failed its fifth audit in a row after it could not account for at least $220 billion in government-furnished property, the Daily Caller News Foundation reported.

The DOD has been mandated by federal law to complete audits since 1994; however, the mandate was ignored for decades due to the agency’s massive size, according to Military.com. Since launching its first independent audit in 2017, the Pentagon has never passed.

The Pentagon failed its fifth audit in November after the agency could not prove expenditures for 61% of its $3.5 trillion in assets. To perform this year’s overall audit of the DOD, which was expected to cost $218 million, the agency aggregated 27 separate audits conducted by approximately 1,600 auditors. According to Military.com, the auditors performed 220 in-person site visits and 750 virtual site visits.

The GAO’s study reported that auditors first alerted the DOD in 2001 that the agency failed to keep track of its government-furnished property.

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Author: HP McLovincraft

Seeker of rabbit holes. Pessimist. Libertine. Contrarian. Your huckleberry. Possibly true tales of sanity-blasting horror also known as abject reality. Prepare yourself. Veteran of a thousand psychic wars. I have seen the fnords. Deplatformed on Tumblr and Twitter.

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