Where did $824 billion go? Pentagon's shocking audit disaster sparks 'here comes DOGE' reactions in US
By Shweta Kumari | First Published Nov 18, 2024, 11:50 AM ISTThe Pentagon has once again failed in its quest for fiscal transparency, unable to account for its colossal $824 billion budget—a striking failure marking its seventh consecutive audit miss.
The Pentagon has once again failed in its quest for fiscal transparency, unable to account for its colossal $824 billion budget—a striking failure marking its seventh consecutive audit miss. Yet, amid the mounting scrutiny, defense officials expressed optimism about tackling the Department of Defense’s (DoD) financial woes.
Auditors issued a damning disclaimer of opinion, citing insufficient data to make a reliable judgment on the department’s accounts. Of the 28 standalone entities audited within the DoD, nine earned unmodified opinions, one received a qualified opinion, 15 were tagged with disclaimers, and three audits remain unfinished, according to FOX News.
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Despite the sobering results, Under Secretary of Defense (Comptroller) and Chief Financial Officer Michael McCord claimed the department has reached a turning point in its financial understanding. "Momentum is on our side, and throughout the Department, there is strong commitment—and belief in our ability—to achieve an unmodified audit opinion," he stated.
🇺🇸 PENTAGON FAILS AUDIT AGAIN, CAN'T TRACK $824B AS ELON TAKES AIM AT WASTE
For the 7th straight year, the Pentagon can't fully account for its massive $824 billion budget - news that comes as Elon and Vivek prepare to tackle government waste through Trump's new Department of… pic.twitter.com/UxCl4KomSG
McCord also defended the department’s performance during a Friday briefing, rejecting the notion of an outright failure. "We had about half clean opinions," he noted. "So if someone had a report card that is half good and half not good, I don't know that you call the student or the report card a failure."
The Pentagon aims to achieve a clean audit by 2028, as mandated by the National Defense Authorization Act. Independent public accountants and the DoD Office of Inspector General meticulously examined the financial statements to highlight systemic weaknesses.
Here comes The DOGE 🫡🇺🇸 pic.twitter.com/omvaKtuyU9
— Department Of Government Efficiency Community (@doge_eth_gov)McCord emphasized that while the road to reform remains challenging, the path is becoming clearer. "Significant work remains and challenges lie ahead, but our annual audit continues to be a catalyst for department-wide financial management reform, resulting in greater financial integrity, transparency, and better-supported warfighters," he concluded.
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