The Pentagon on Friday failed its seventh audit in a row, with the nation’s largest government agency still unable to fully account for its more than $824 billion budget, though officials stress they are making good progress toward a clean audit in 2028.
The Department of Defense technically earned a disclaimer of opinion, meaning it failed to provide sufficient information to auditors to form an accurate opinion.
The goal is to earn an unmodified audit opinion, or a clean audit that says the financial statements are accurate. A qualified opinion says there are omissions and concerns but the finances are generally reliable.
Conducted by independent auditors and overseen by the DoD Inspector General, these audits, costing $178 million and conducted by 1,700 auditors.
P.S. That's not a tiny divergence but 60% of their whole budget!!!
If a private citizen failed even a few IRS audits, they’d likely face hefty fines and possible jail time for tax evasion. Yet, despite repeated failures, the Department of Defense still receives its full $824 billion annual budget! Maybe nothing 😷
If a government institution fails an audit, they should have their funding cut off until they can show where the money went.
If a tax-funded institution cannot account for where its money has gone, why should taxpayers continue giving it money?
Until the responsible people go to jail nothing major would happen