Department of Housing and Urban Development’s (HUD’s) financial books are in such bad shape that HUD’s Inspector General (IG) can’t complete an audit even after HUD officials corrected $520 billion in bookkeeping errors, according to a new IG report.
Officials at HUD fixed $3.4 billion in errors from its 2015 books and $516.4 billion in errors from its 2016 books after the IG in December was unable to issue an opinion on either year’s financial statements and highlighted 11 material weaknesses, seven significant deficiencies and five instances of failure to comply with laws and regulations.
These same problems have been reported for three straight years by the IG.
One can only stand aghast at the incompetence on display. No wonder the government has put us all near the brink of financial ruin. If this was a private company, you can guarantee people would be going to prison.
So pretty much everything the law requires be done for financial accountability was totally ignored. Given the deplorable state of his former department, you would think Castro would hang his head in shame. You would be wrong! He actually tried to give Ben Carson advice on how not to screw up his department. What a joke!
This department seems to have a great mission, but as usual, Democrats have totally ruined it. Let’s hope Ben Carson can use some of that brilliance he’s known for to clean this department from top to bottom. The first thing he should do is fire all the Obama appointees who are doing shady things with our tax dollars.
http://dailycaller.com/2017/03/07/hud-can-fix-520-billion-in-accounting-errors-but-still-cant-document-its-spending/ *** http://readmeeveryday.com/audit-hud-discovers-billions/
Pingback: HUD Audit Reveal BILLIONS In Bookkeeping Discrepancies | Reclaim Our Republic