Financial Management: Examples of Weaknesses. Washington, DC : General Accounting Office (GAO) , 1988
Financial Management: Examples of Weaknesses. Washington, DC : General Accounting Office (GAO) , 1988
From the Appendix: “The inability of the Department of Defense (DOD) to control and account for funds entrusted to it by foreign countries under our foreign military sales program provides an example of the cost to the government of inadequate accounting systems and weak internal controls. For years, DOD has been operating an inadequate system, which has resulted in the Department's inability to relate expenditures of foreign customers' funds to delivery of weapons to those countries. DOD records from 1986 indicated that the Department had spent over $600 million more of foreign country funds than the value of the weapons it reportedly delivered to them. DOD did not know for what purposes all of these funds had been spent and was unable to reconcile the differences.”
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