US EditionPentagon says it fails eighth audit, targets 2028 to pass
- On Friday, the Pentagon failed its eighth consecutive financial audit, reporting $4.65 trillion in assets and $4.7 trillion in liabilities across all 50 states and more than 40 countries.
- DoD auditors found the department failed to report the Global Spares Pool assets, causing a material misstatement on the Agency‑Wide Financial Statements and preventing error quantification.
- Audit records show the fiscal 2025 review identified 26 material weaknesses and two significant deficiencies, with the department failing every audit since Congress mandated annual reviews beginning in 2018 among the government's 24 major agencies.
- Jules Hurst wrote the department aims to resolve critical issues and reach an unmodified audit opinion by 2028, while Michael Powers said his office will set milestones within weeks and the DoD plans a revised FY 2026 strategy.
- A material weakness means a control deficiency that risks material misstatements, and department officials say FY25 progress includes pledges to improve common financial systems and share results openly.
22 Articles
22 Articles
Pentagon Fails 8th Consecutive Audit Days After Bipartisan Vote to Hand It $900 Billion
"Congress cannot continue funneling hundreds of billions of dollars to a completely unaccountable agency while American families can’t afford food or healthcare," said one House Democrat.
Defense Department unable to pass its annual audit, again
The Defense Department failed to pass its annual audit once again. Auditors found 26 material weaknesses and “two significant deficiencies related to the DoD’s internal controls over financial reporting.” The review covered the department’s $4.7 trillion in assets and another $4.7 trillion in liabilities. The Pentagon has failed every audit since launching its first agency-wide review in 2018. Congress has set a goal for the DoD to achieve a cle…
Pentagon fails its 8th audit in a row
The Department of Defense once again failed to pass its annual audit, the eighth time in as many years since Congress mandated a full accounting of the Pentagon’s expenses. This year’s findings, released on Friday, show the Pentagon again struggling with proper accounting of its finances, resulting in misstatements. The Fiscal Year 2025 Financial Agency Report found 26 material weaknesses and two “significant deficiencies in the department’s con…
Marine Corps Times
Pentagon fails financial audit for 8th year in a row
DOD is the only one of the government’s 24 major agencies never to pass.
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