Title : Pentagon Cannot Account For $800 Million In Construction Projects
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Pentagon Cannot Account For $800 Million In Construction Projects
The Pentagon. Wikimedia
Politico: Exclusive: Massive Pentagon agency lost track of hundreds of millions of dollars
A damning outside review finds that the the Defense Logistics Agency has lost track of where it spent the money.
One of the Pentagon’s largest agencies can't account for hundreds of millions of dollars’ worth of spending, a leading accounting firm says in an internal audit obtained by POLITICO that arrives just as President Donald Trump is proposing a boost in the military budget.
Ernst & Young found that the Defense Logistics Agency failed to properly document more than $800 million in construction projects, just one of a series of examples where it lacks a paper trail for millions of dollars in property and equipment. Across the board, its financial management is so weak that its leaders and oversight bodies have no reliable way to track the huge sums it's responsible for, the firm warned in its initial audit of the massive Pentagon purchasing agent.
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Update: Pentagon agency can’t account for hundreds of millions in spending: report (The Hill)
WNU Editor: Here is an easy prediction. As the audit of the Pentagon continues, they are going find more money missing.
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