GAO: Many federal financial books are so sloppy they can’t be audited

[longknife]

This shouldn't surprise anybody. First, the methods for maintaining them are straight out of thr 20th century. Second, most agencies are using computers that can't run up-to-date data bases and calculator programs. And finally, many who are responsible for the budgets are more politically motivated that managerial.

The GAO said those weaknesses also:

Affect the federal government’s ability to reliably measure the full costs and financial performance of certain programs and activities.

Impair the federal government’s ability to adequately safeguard significant assets and properly record various transactions.

Hinder the federal government from having reliable financial information to operate in an efficient and effective manner.

Full story @ GAO: Many federal financial books are so sloppy they can't be audited - Watchdog.org

 

[The Great Goose]

That's crazy.

 

[WheelieAddict]

This shouldn't surprise anybody. First, the methods for maintaining them are straight out of thr 20th century. Second, most agencies are using computers that can't run up-to-date data bases and calculator programs. And finally, many who are responsible for the budgets are more politically motivated that managerial.

The GAO said those weaknesses also:

Affect the federal government’s ability to reliably measure the full costs and financial performance of certain programs and activities.

Impair the federal government’s ability to adequately safeguard significant assets and properly record various transactions.

Hinder the federal government from having reliable financial information to operate in an efficient and effective manner.

Full story @ GAO: Many federal financial books are so sloppy they can't be audited - Watchdog.org

Gonna take money to fix it.

 

[Claudette]

Yup and if it was the private sector those in charge of the books would get fired.

Don't look for that to happen here. Those folks will keep their cushy Fed jobs at our expense.

 

[waltky]

Granny says, "Dat's right...

... dat's what happens when ya let...

... a jive turkey spend other people's money...

... an' run the country."

 

[NightFox]

This shouldn't surprise anybody. First, the methods for maintaining them are straight out of thr 20th century. Second, most agencies are using computers that can't run up-to-date data bases and calculator programs. And finally, many who are responsible for the budgets are more politically motivated that managerial.

The GAO said those weaknesses also:

Affect the federal government’s ability to reliably measure the full costs and financial performance of certain programs and activities.

Impair the federal government’s ability to adequately safeguard significant assets and properly record various transactions.

Hinder the federal government from having reliable financial information to operate in an efficient and effective manner.

Full story @ GAO: Many federal financial books are so sloppy they can't be audited - Watchdog.org

Gonna take money to fix it.

Money won't do it without integrity, competence and accountability and those last 3 commodities are in very short supply in the federal government. The Federal Government already spends a TON of money on administrative overhead every year and here are the results, simply throwing even more tax-payer money at the problem isn't likely to improve the situation unless there is a concerted effort to hold the bureaucrats responsible for these completely dishonest and incompetence practices accountable and I don't mean just firing people, I'm talking about throwing them in jail for fraud.

If a publicly traded company kept its books like the Federal Government does now the companies assets would be seized and the company officers would be jailed.