The Wall Street Journal today has a story
"Keeping the Country Safe, One Budget at a Time" by Dov S. Zakheim,
Undersecretary of U.S. Department of Defense.
In it he states:
"For years the department has been unable to
produce qualified audit opinions, much less ""clean" ones. Year after
year, the department's inspector general, who audits its financial statements,
could only issue a "disclaimer", to say that he had no way to assess whether
Defense had fully accounted for all its assets and liabilities."
Technically, isn't it impossible to do a cost
benefit analysis of any P2 programs in a government agency such as DOD without
full transparency of financial audits of assets and liabilities to
stakeholders using codified comparable government enforced federal accounting
And technically isn't the DOD in violation of
the 1990 Chief Financial Officers Act, OMB circular A-134, and Federal
Accounting Standards Advisory Board (FASAB) accounting standards mandating
full accounting of assets and liabilities under Congressionally mandated
accounting standards SFFAS No.5 (liabilities) and SFFAS No.6 (Plant, Property,
Do you know of any P2 program in a federal
agency/department providing financial transparency of assets and liabilities
under these mandates?
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