US Pentagon Fails Fourth Audit But Says Steady Progress | New

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By Mike Stone

WASHINGTON (Reuters) – The U.S. Pentagon has recorded its fourth comprehensive audit failure, reflecting systems and accounting problems as the vast bureaucracy makes “steady progress” towards a passing mark, the chief financial officer of the department.

The legally required audit helped fine-tune Pentagon systems and controls, and regularly helped the Department of Defense find misplaced inventory, saving money.

Approximately 1,200 auditors tested systems and record-keeping processes on weapons systems, military personnel and assets around the world with 278 site visits and 1,069 virtual tours.

The process led to 26 stand-alone audits which made up the overall exercise.

Eight units were to receive clear opinions from auditors, the same as last year, said Mike McCord, Pentagon chief financial officer.

“The department continues to make steady progress towards obtaining a favorable audit opinion,” McCord told reporters on the release of audit results of more than $ 3.2 trillion in assets. and $ 3 trillion in liabilities.

The Pentagon added, “As audits mature and testing expands, Defense Department officials expect the results to increase in number and complexity,” as successive scans could expose problems. deeper.

The U.S. Department of Homeland Security took a decade to pass a full audit, and Pentagon officials have said the DoD could take as long, making 2027 the possible date for its first clean audit.

Coronavirus travel restrictions have hampered auditing in situations requiring in-person access, the Pentagon said, but virtual site visits have made the due diligence effort more efficient.

This year’s $ 207 million audit fee was almost unchanged from the previous year.

(Reporting by Mike Stone in Washington; editing by Jane Wardell and Clarence Fernandez)


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