Pentagon Fails 7th Audit in a Row But Says Progress Made
16th November 2024
The Pentagon on Friday failed its seventh audit in a row, with the nation’s largest government agency still unable to fully account for its more than $824 billion budget, though officials stress they are making good progress toward a clean audit in 2028.
The Department of Defense technically earned a disclaimer of opinion, meaning it failed to provide sufficient information to auditors to form an accurate opinion.
The goal is to earn an unmodified audit opinion, or a clean audit that says the financial statements are accurate. A qualified opinion says there are omissions and concerns but the finances are generally reliable.