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DOD audit results: Some questions for the powers that be

January 11, 2019

Can you please identify individuals that stood out for their effort, leadership, and results in improving accounting controls and processes this past year? What can others learn from them?

Can you please identify any members of Congress that were helpful in providing feedback and/or valuable oversight during the new audit initiative?

Who have been some of the better reporters covering the issues involved?  Either in the mainstream or alternative media? Have any of their insights been especially valuable in the overall effort?

Which of the independent public accounting firms associated with the audit provided the most valuable service? Did any of them fail to measure up?

How should the public try to gauge the cost-effectiveness of the money spent on this audit?

Can blockchain technology help to address identified weaknesses? What progress is DoD making in this area? Do you see any shortfalls or risks in new accounting technologies for the integrity of the financial reporting process?

Recent financial market history may provide some valuable perspective. Have you seen the movie “The Big Short?” Have you read the book “The Smartest Guys in the Room?” Have you reflected on the costs and benefits of paying ‘independent’ auditors for their opinions?

Can or should we measure the success of the audit initiative on the basis of how many scandals were uncovered?

What do these results imply about the cost-effectiveness of the quality of ‘national defense?’ Is there a way to identify what % of current spending levels could achieve equivalent ‘defense,’ holding foreign policy (and the international footprint of ‘national defense’) constant?

If DoD financial accounts may be ‘modified’ to guard secret classified programs, will DoD ever receive anything but a disclaimer of opinion on its financial statements?

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