Financial reports or statements from the Department of Defense

Pentagon Fails 7th Audit, $2.46 Trillion Unaccounted, Aims for Clean Audit by 2028

Nov 16, 2024, 07:13 PM

The Pentagon has failed its seventh consecutive financial audit, unable to fully account for its $824 billion budget. The Department of Defense, the nation's largest government agency, could not account for approximately 60% of its $4.1 trillion in assets, amounting to $2.46 trillion unaccounted for. Despite the failure, officials claim progress is being made towards achieving a clean audit by 2028, noting that 82% of funding is now free of major errors, up from 7% in 2021. The audit, which cost $178 million and involved around 1,700 auditors, revealed that the Pentagon failed to provide sufficient information to form an accurate opinion. The Pentagon has never passed an audit since audits became mandatory in 2018.