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  1. #1 DoD Finds $800 Million In Helicopters, As First-Ever Full-Scale Audit Starts 
    Senior Member Banacek's Avatar
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    After several decades of nation-building and trillions of dollars missing or improperly recorded, the long-awaited audit of the U.S. Department of Defense (DoD) has finally begun. On Wednesday, the Defense Department Comptroller David Norquist told lawmakers in Washington that the DoD’s first-ever departmentwide audit will cost about $367 million in 2018 and an additional $551 million to fix the problems.

    Norquist, who testified before the House Armed Services Committee, said Defense Secretary James N. Mattis and Deputy Defense Secretary Patrick M. Shanahan are in full support of the audit. Back in May 2017, President Trump appointed Norquist to finally put the military’s financial house back in order after many years of delays.

    According to the World Economic Forum, U.S. Department of Defense has been named the largest employer in the world with some 3.2 million members on its payroll and $2.4 trillion in assets but has never administered a full audit. Shocking.

    “This is the first time the department will undergo a full financial statement audit,” he said. “A financial statement audit is comprehensive and occurs annually and it covers more than financial management,” Norquist explained to Lawmakers.

    The purpose of the audit will document military equipment and real property along with condition and location. “It tests the vulnerability of our security systems and it validates the accuracy of personnel records and actions,” Norquist said
    Further down

    Norquist told the House Armed Services Committee that an initial Army audit found 39 UH-60 Black Hawk helicopter ($830,700,000) were not adequately recorded in the property system. “The Air Force identified 478 structures and buildings at 12 installations that were not in its real property system,” he added.
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  2. #2  
    Senior Member DumbAss Tanker's Avatar
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    It's really accounting bingo lingo, the units that were responsible for them no doubt knew where they were, it's just the property books weren't perfect. But such is the way of accountants, reality means nothing to them, just paper.
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