Uncle Sam Needs ---- Accounting Help


Opportunity for an enterprising accounting systems person or entrepreneurial accountant: Build a working accounting system, protocol, and internal controls for the Defense Department. (LOL)

DOD has "accounting issues."

Last year, according to DOD and Pentagon "accountants," DOD made over $35 trillion of "accounting adjustments" to eliminate double, triple, and quadruple counting of the same money as it moved through Pentagon accounts. They made some 550,000 entries to correct previously incorrect entries.

In case you are wondering - DOD's budget allocation is about $750 billion last year... In effect, they corrected about $45 worth of errors for every $1 they spent. Viewed another way - they corrected errors that exceed 150% of the entire US GDP (PPP).

Oh, and BTW: Even after all those corrections -- they failed their first certified financial audit (though auditors didn't find significant fraud in any program). [*1]

Sounds like a heck of an opportunity for somebody, doesn't it?

[*1] Certified financial audits are not designed to detect anything less than blatant fraud - and they seldom do. Fraud auditors deploy a very different set of tools and techniques to find what are usually low-frequency events - below the threshold of discovery for certified audit procedures.

Photo: U.S. Navy; US Marine from 22nd Marine Expeditionary Unit (assault drill on the deck of the USS Bataan)


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