The Pentagon failed its seventh consecutive audit on Friday, failing to fully account for its massive $824 billion budget, but officials said the Pentagon has “turned a corner” in understanding its upcoming budget challenges. ” I am sure.
As a result of the audit, the opinion was disclaimed. This means that the auditor has been provided with insufficient information to form an accurate opinion about the accounting.
Of the 28 Department of Defense (DoD) reporting agencies that conducted independent audits, nine received an unmodified audit opinion, one received a qualified opinion, 15 received a disclaimer, and three Opinion is pending, the Pentagon said.
But with a goal of achieving a clean audit by 2028, Michael McCord, the Under Secretary of Defense (Inspector General) and Chief Financial Officer, said the Pentagon is “at an inflection point in our understanding of the depth and breadth of the challenge.” We have welcomed the
Military suicides were on the rise last year despite major investments in prevention programs
The agency's goal of obtaining an unrevised audit opinion by the end of 2028 is mandated by the National Defense Authorization Act. (Celal Gunes/Anadolu, via Getty Images, File)
“Momentum is on our side, and there is strong commitment and belief in our ability to achieve unmodified audit opinions across the department,” he said. said in a statement.
Pentagon Inspector General Michael McCord said that while much work remains, the Pentagon believes it can achieve a clean audit by 2028. (Al Drago/Bloomberg via Getty Images, File)
The objective of obtaining an unmodified audit opinion is mandated by the National Defense Authorization Act.
McCord told reporters at a Friday briefing that he wouldn't say the agency “failed” because “about half of them are right about it.”
“So if someone's report card is half good and half bad, I don't know if I would call that student or report card a failing grade,” he said.
On Friday, the Pentagon failed to achieve a clean audit for the seventh year in a row. (Daniel Slim/AFP via Getty Images, File)
US sends additional troops to Middle East amid escalating regional tensions: Department of Defense
An independent certified public accountant and the Department of Defense Inspector General scrutinized the financial statements for an audit.
In a statement, McCord emphasized that the path to a clean audit is clear.
Click to get the FOX News app
He said: “While significant work remains and challenges lie ahead, our annual audit continues to be a catalyst for financial management reform across the Department, resulting in improved financial health and transparency. “Support for combatants will be strengthened.”
