🚨Pentagon Fails 7th Audit in a Row but Says Progress Made

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.

Under Secretary of Defense Comptroller and Chief Financial Officer Michael McCord said that despite the disclaimer of opinion, which he expected, the Defense Department “has turned a corner in its understanding of the depth and breadth of its challenges.”

“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 said in a statement.

The Defense Department’s report card as a whole is made up of 28 entities operating under the Pentagon that conducted independent audits.

Of those, nine received an unmodified audit opinion, one received a qualified opinion, 15 received disclaimers and three opinions remain pending. The Pentagon expects the final number of clean or qualified audits to be roughly around what it was last year.

The Pentagon has never passed an audit since the agency became legally obligated to carry them out in 2018. A major challenge in auditing remains a full accounting of the sheer number of systems the Defense Department employs.😭😭

More Reading — Task and Purpose: Pentagon Fails Seventh Audit In A Row

🔗SOURCE ➡️ The Hill .

Related: 11/16/23 — Pentagon Fails 6th Audit in a Row

Pentagon Fails Sixth Audit In A Row

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