March 28, 2024

AndronETalksNews

AndronETalksNews

Defense Department fails another audit, but makes progress

The Hill

BY ELLEN MITCHELL – 11/17/22 5:55 PM ET

The Defense Department has failed its fifth-ever audit, unable to account for more than half of its assets, but the effort is being viewed as a “teachable moment,” according to its chief financial officer. 

After 1,600 auditors combed through DOD’s $3.5 trillion in assets and $3.7 trillion in liabilities, officials found that the department couldn’t account for about 61 percent of its assets, Pentagon Comptroller Mike McCord told reporters on Tuesday. 

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