$6 Billion Goes Missing at State DepartmentPosted: April 4, 2014
In a special “management alert” made public Thursday, the State Department’s Inspector General Steve Linick warned “significant financial risk and a lack of internal control at the department has led to billions of unaccounted dollars over the last six years.
The alert was just the latest example of the federal government’s continued struggle with oversight over its outside contractors.
The lack of oversight “exposes the department to significant financial risk,” the auditor said. “It creates conditions conducive to fraud, as corrupt individuals may attempt to conceal evidence of illicit behavior by omitting key documents from the contract file. It impairs the ability of the Department to take effective and timely action to protect its interests, and, in tum, those of taxpayers.”
In the memo, the IG detailed “repeated examples of poor contract file administration.” For instance, a recent investigation of the closeout process for contracts supporting the mission in Iraq, showed that auditors couldn’t find 33 of the 115 contract files totaling about $2.1 billion. Of the remaining 82 files, auditors said 48 contained insufficient documents required by federal law…read more….
- STATE DEPARTMENT AUDITOR: Uhm, Any of You Guys See $6 Billion Lying Around Somewhere? (directorblue.blogspot.com)
- What Difference Does It Make? $6 Billion Vanishes From Hillary’s State Department (politicaloutcast.com)
- $6 bn worth of contracts misplaced by State Department (EndtheLie.com)
- Hillary Clinton Now John Kerry Can’t Account For $6 Billion Contract Dollars (pobeptsworld.wordpress.com)
- – US, S. Korea Begin Large-Scale Joint Marine Drill (freedomportal.net)
- After 1,989 Day-Vacancy – President Obama Nominates Steve Linick as State Dept Inspector General (diplopundit.net)
- All The Auditors Are Above Average: Jay Hanson Allergic To “Audit Failure” (retheauditors.com)
- State Department system containing classified, personal information still riddled with security gaps (foxnews.com)
- EU Enacts 10-Year Auditor Rotation (ww2.cfo.com)
- Fannie, Freddie, and Mortgage Regulator Balked at Oversight, Watchdog Says (pogoblog.typepad.com)