GAO Says DOD Auditing Efforts Lagging, Over Budget

Law360, New York (September 29, 2010, 4:43 PM EDT) -- A new study says the process of updating the military's accounting systems is years behind schedule and $6.9 billion over budget, raising questions about the U.S. Department of Defense's ability to meet a congressional requirement to be ready to pass an audit by 2017.

A study released Wednesday by the U.S. Government Accountability Office said the DOD has longstanding challenges to overcome for audit readiness, particularly with regard to active and sustained leadership and oversight. But despite the problems, the DOD is now heading in the...
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