Audit of Implementation of Budget For 2010
The US Government Accountability Office (GAO) was unable to provide an audit opinion on the 2010 financial statements of the US Government because of 'widespread material internal control weaknesses, significant uncertainties, and other limitations'. The GAO cited as the principal obstacle to its provision of an audit opinion 'serious financial management problems at the Department of Defense that made its financial statements unauditable'.
In FY 2010 six out of thirty-three DoD reporting entities received unqualified audit opinions.
Chief Financial Officer and Under Secretary of Defense Robert F. Hale acknowledged enterprise-wide problems with systems and processes, while the DoD's Inspector General reported 'material internal control weaknesses ... that affect the safeguarding of assets, proper use of funds, and impair the prevention and identification of fraud, waste, and abuse'. Further management discussion in the FY 2010 DoD Financial Report states 'it is not feasible to deploy a vast number of accountants to manually reconcile our books' and concludes that 'although the financial statements are not auditable for FY 2010, the Department's financial managers are meeting warfighter needs'.
Read more about this topic: Military Budget Of The United States
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