Friday, October 1, 2010

Audit show Pentagon's new accounting system is busting it's own budget

http://coburn.senate.gov/public/index.cfm/news?ContentRecord_id=a2f48abc-ddd6-477b-99e5-b09ca279bf87&ContentType_id=abb8889a-5962-4adb-abe8-617da340ab8e&Group_id=2b5f5ef9-5929-4863-9c07-277074394357&MonthDisplay=9&YearDisplay=2010

Auditable books? What a unique idea, to use a proven method,
It always seemed to have worked in the olden days.
What do they call that process again, it's been so long since they used it, most people have forgotten.
Oh Yeah, now I remember
A Paper Trail.
By the way check Senator Coburns voting record out
Perception is not nearly enough to vote on
Check them out and make sure that they really will represent you and not just Corporate America



CQ Today - by John M. Donnelly
Lawmakers complained Wednesday that the Pentagon is mismanaging a systemic overhaul of its accounting systems, casting doubt on the Defense Department’s efforts to better manage its nearly $700 billion budget.

A new Government Accountability Office (GAO) audit found that new computer systems intended to improve the Pentagon’s financial oversight are themselves nearly $7 billion over budget and well behind schedule.

The larger problem of financial disarray at the Pentagon has been a longstanding one that lawmakers, auditors and Defense Department officials said is ever more pressing as record defense budgets have added to the federal debt. An inability to properly track and manage assets has broad ramifications for the U.S. military, they said.

The overruns and delays on the accounting software represent “the best argument for having auditable books,” said Robert E. Andrews, D-N.J., chairman of the House Armed Services Committee’s Defense Acquisition Reform Panel. “If they can’t keep track of setting up an auditing system, it suggests they can’t keep track of anything else.”

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