Pentagon Fails Audit of $3.8 Trillion in Military Assets for 6th Year in a Row

The Pentagon has failed its financial audit for the 6th year in a row, with officials saying it could take years before it gets a passing grade.

U.S. Secretary of Defense Lloyd Austin attends a press conference at State Department in Washington on April 11, 2023. Madalina Vasiliu/The Epoch Times

The Pentagon has failed for the sixth year in a row to get a passing grade on its accounting systems that track $3.8 trillion in military assets, an independent audit shows.

“Things are showing progress, but it’s not enough,” Mike McCord, the Defense Department’s (DOD’s) chief financial officer, told reporters at a Nov. 15 briefing.