from The National Pulse:
The Pentagon has failed its audit for the seventh time in a row, highlighting ongoing challenges in fully accounting for its $824 billion budget. The audit resulted in a disclaimer of opinion as auditors were unable to gather sufficient information to form a comprehensive assessment of the accounts.
Only nine of the DOD’s 28 reporting entities achieved an unmodified audit opinion, while just one received a qualified opinion. Fifteen entities received disclaimers, and three audit opinions are still pending. Despite these mixed results, Under Secretary of Defense (Comptroller) Michael McCord expressed confidence in the agency’s forward momentum. He noted the ambition of obtaining a clean audit by 2028, as required by the National Defense Authorization Act (NDAA).
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McCord remarked that the DOD has made strides in comprehending its financial challenges and that there is a strong commitment within the Department to securing an unmodified audit opinion in the future. “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. “So if someone had a report card that is half good and half not good, I don’t know that you call the student or the report card a failure.”
Independent public accountants and the DOD Office of Inspector General closely reviewed the financial statements for the audit. McCord did emphasize that work remains to bring the Pentagon into compliance. Pentagon officials likely feel added pressure from President-elect Donald J. Trump‘s Department of Government Efficiency (DOGE) initiative, headed by billionaire technology and space mogul Elon Musk and entrepreneur Vivek Ramaswamy.
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