DOD Makes Audit Progress, But Much More Needs to Happen, Official Says

The Defense Department made progress toward a “clean audit,” but not as much as officials hoped. The audit looks at every aspect of the department — an organization of about 2.9 million people with one of the federal government’s largest portfolios of real property. “The results of the fifth annual DOD-wide financial audit will be a disclaimer of opinion for DOD as a whole,” Michael J. McCord, the undersecretary of defense (comptroller)/chief financial officer, said. “This is the same as last year and … not unexpected. We did expect this disclaimer, but we will also sustain all of our prior year positive opinions, which cover approximately 39 percent of our assets.” To read more, click here.