Is the Defense Department prepared for a full audit by 2017?
When the Pentagon released the most recent iteration of its Financial Improvement and Audit Readiness status report, a bipartisan group of senators balked, Politico reports.
“Based on the findings of today’s FIAR Plan, it appears unlikely that the Department of Defense will be able to meet that 2017 requirement,” according to a statement by a group of senators, including Sens. Thomas Carper (D-Del.) and John McCain (R-Ariz.). That deadline was mandated by a 1990 law, according to Politico’s report.
“Today’s report by the DOD’s comptroller shows that while a few small agencies within the department have reached the required financial audit level, the vast majority of the department had not,” the statement said.