Hill Awards Golden Fleece to DoD for Not Completing a Financial Audit
Washington, DC,
October 25, 2017
Congressman French Hill (R-AR) named the Department of Defense (DoD) as the latest winner of the Golden Fleece award for having never conducted a financial audit. An annual financial audit by each federal agency, including DoD, is required by the Chief Financial Officer’s Act of 1990. Further, DoD financial management has been on the Government Accountability Office’s (GAO) “High Risk List” since 1995, and there have been many reports on financial mismanagement and cost overruns at the DoD. "As a former banker and businessman, it is concerning to me that our largest federally funded agency has never conducted a financial audit,” said Rep. Hill. “The DoD represents more than 50 percent of the nation’s discretionary budget. I believe conducting its first financial audit will help the DoD identify savings and efficiencies, as well as identify mismanaged funds that can be redirected and put to better use for our men and women and uniform.” To view the letter sent to the Secretary of Defense, click here. |
