Pentagon announces its first ever fiscal audit

The Defense Department just announced that it will begin this month with its first, and long overdue, full-scale audit of Pentagon spending.

The Department of Defense announced the first of what it says will be an annual audit in a press release:

The audit is massive. It will examine every aspect of the department from personnel to real property to weapons to supplies to bases. Some 2,400 auditors will fan out across the department to conduct it, Pentagon officials said.

“It is important that the Congress and the American people have confidence in DoD’s management of every taxpayer dollar,” [DoD Comptroller David] Norquist said.

Audits are necessary to ensure the accuracy of financial information. They also account for property. Officials estimate the department has around $2.4 trillion in assets. “With consistent feedback from auditors, we can focus on improving the processes of our day-to-day work,” the comptroller said. “Annual audits also ensure visibility over the quantity and quality of the equipment and supplies our troops use.”

The DoD Office of the Inspector General hired independent public accounting firms to conduct audits of individual components – the Army, Navy, Air Force, agencies, activities and more – as well as a departmentwide consolidated audit to summarize all results and conclusions.

“Beginning in 2018, our audits will occur annually, with reports issued Nov. 15,” Norquist said.

 

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