Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Pentagon fails annual audit for 6th year in a row By: FOX Business November 17, 2023 at 12:03 PM EST The DOD failed an annual audit of its assets for the sixth year in a row, officials announced this week. A Pentagon spokesperson said that the organization is "learning." The Pentagon failed its annual audit for the sixth year in a row.Department of Defense Comptroller Mike McCord announced the results to reporters on Wednesday as the department defended its continued failures as an ongoing process of cleaning up its books."We're working on improving our process. While it wasn't the results that we wanted, we certainly are learning each time an audit passes," said Pentagon deputy press secretary Sabrina Singh.TEXAS LAWMAKERS INTRODUCE 'AUDIT THE PENTAGON ACT,' HOPE TO INCENTIVIZE GOVERNMENT SPENDING TRANSPARENCYShe added, "And, you know, it's a continuing, ongoing process that this building is assessing."The audit consisted of 29 sub-audits and examined approximately $4 trillion in assets and another $4 trillion in liabilities. The process cost approximately $187 million to conduct."Auditing the department’s $3.8 trillion in assets and $4 trillion in liabilities is a massive undertaking," McCord said.FAKE PENTAGON EXPLOSION IMAGE GOES VIRAL ON TWITTER, SPARKING FURTHER AI CONCERNSHe continued, "But the improvements and changes we are making every day as a result of these audits positively affect every soldier, sailor, airman, Marine, guardian and DOD civilian."Audit investigations were carried out at approximately 700 sites by 1,600 auditors.The Pentagon passed only 7 out of 29 sub-audits in 2023 — identical to last year's final results.CLICK HERE TO READ MORE ON FOX BUSINESSAuditors found that half of the department's claimed assets could not be accounted for.The Pentagon began auditing itself in 2018 under former President Trump's administration. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Pentagon fails annual audit for 6th year in a row By: FOX Business November 17, 2023 at 12:03 PM EST The DOD failed an annual audit of its assets for the sixth year in a row, officials announced this week. A Pentagon spokesperson said that the organization is "learning." The Pentagon failed its annual audit for the sixth year in a row.Department of Defense Comptroller Mike McCord announced the results to reporters on Wednesday as the department defended its continued failures as an ongoing process of cleaning up its books."We're working on improving our process. While it wasn't the results that we wanted, we certainly are learning each time an audit passes," said Pentagon deputy press secretary Sabrina Singh.TEXAS LAWMAKERS INTRODUCE 'AUDIT THE PENTAGON ACT,' HOPE TO INCENTIVIZE GOVERNMENT SPENDING TRANSPARENCYShe added, "And, you know, it's a continuing, ongoing process that this building is assessing."The audit consisted of 29 sub-audits and examined approximately $4 trillion in assets and another $4 trillion in liabilities. The process cost approximately $187 million to conduct."Auditing the department’s $3.8 trillion in assets and $4 trillion in liabilities is a massive undertaking," McCord said.FAKE PENTAGON EXPLOSION IMAGE GOES VIRAL ON TWITTER, SPARKING FURTHER AI CONCERNSHe continued, "But the improvements and changes we are making every day as a result of these audits positively affect every soldier, sailor, airman, Marine, guardian and DOD civilian."Audit investigations were carried out at approximately 700 sites by 1,600 auditors.The Pentagon passed only 7 out of 29 sub-audits in 2023 — identical to last year's final results.CLICK HERE TO READ MORE ON FOX BUSINESSAuditors found that half of the department's claimed assets could not be accounted for.The Pentagon began auditing itself in 2018 under former President Trump's administration.