Finweek English Edition - - THE WEEK -

Even though it is re­quired by law, the US depart­ment of de­fense has never been au­dited – mean­ing $10tr in tax­payer money has gone un­ac­counted for since 1996, guardian.com re­ported. The depart­ment has got­ten away with it by telling the Gov­ern­ment Ac­count­abil­ity Of­fice (GAO) that col­lect­ing and or­gan­is­ing the re­quired in­for­ma­tion for a full au­dit “is too costly and time-con­sum­ing”, it re­ported. In De­cem­ber, The Wash­ing­ton Post pub­lished de­tails of a re­port that high­lighted $125bn in waste at the depart­ment. Yet US Pres­i­dent Don­ald Trump has asked for a $52bn in­crease in de­fence spend in the next fi­nan­cial year to $639bn, al­most dou­ble SA’s GDP.

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