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.
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15 Articles
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.
Pentagon Audit Woes Persist: A Battle for Financial Accountability | Science-Environment
For the eighth consecutive year, the Pentagon has not passed its annual audit, pointing to ongoing financial accountability issues. With assets and liabilities each exceeding $4 trillion, significant weaknesses in internal controls have been identified. The Department is aiming for a clean audit opinion by 2028.
Pentagon audit failure streak hits eight years with $4.73T in liabilities outweighing assets
The Pentagon has blown its eighth audit in a row, still unable to pass a full financial check of its books. The Department of War admitted in a fresh report that it’s once again failed to account for what it owns versus what it owes, leaving $4.73 trillion in liabilities towering over its assets. The Pentagon also reiterated that it has pushed its clean audit goal to 2028, when Trump would’ve already been out of office. The largest audit flagged…
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