Earlier this year, a Michigan State University economist, working with graduate students and a former government official, found $21 trillion in unauthorized spending in the departments of Defense and Housing and Urban Development for the years 1998-2015.
Now, the Department of Defense has announced it will conduct the first department-wide, independent financial audit in its history.
The Defense Department did not say specifically what led to the audit. But the announcement came four days after Skidmore discussed his team’s findings on USAWatchdog, a news outlet run by former CNN and ABC News correspondent Greg Hunter.
Coincidentally, on July 26, 2016, the Office of the Inspector General had issued a report “Army General Fund Adjustments Not Adequately Documented or Supported”. The report indicates that for fiscal year 2015 the Army failed to provide adequate support for $6.5 trillion in journal voucher adjustments.
The unreconciled transactions are funds for which auditorsThis post was originally published on this site