Pentagon fails first-ever audit, and that’s a good thing!

Published November 16, 2018 11:58am ET



FOLLOW THE MONEY: The Pentagon has done what for years seemed impossible — it dispatched more than 1,200 auditors to examine hundreds of thousands of items at over 600 locations to figure out if taxpayer money was being used wisely. And the auditors examined if systems were effective in tracking inventory and ensuring they followed proper security practices.

With approximately $2.8 trillion in total assets, accounting for over 70 percent of the U.S. government’s total, the FY 2018 DoD consolidated audit includes over 20 standalone audits. It’s arguably one of the largest and most complex financial statement audits ever undertaken.

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