Senator Chuck Grassley has reached across party lines to work directly with Senator Bernie Sanders (D-vt) to urge a financial oversight for The Department Of Defense.

In a letter written by the lawmakers urging the adoption, they stated:

“The Government Accountability Office (GAO) has consistently placed DOD Financial Management on its High-Risk List for 26 years. The most recent High-Risk List report of 2021 notes that while the Department’s spending makes up more than 50 percent of the federal government’s discretionary spending and its physical assets represent more than 70 percent of the federal government’s physical assets, it remains the only major agency that has never been able to accurately account for and report on its spending or physical assets.”

The letter further highlights the essentialness of oversight, while explaining the expectations of the commission conducting the financial oversight.

The Senator’s concerns come from the alleged assertions that the DOD’s financial management failings,” Adversely affect the overall efficiency and effectiveness of their operations.”

To fix the current issues, Senators proposed to hire outside consultants, such as a “Financial Management Tiger Team” to help conduct deep-dive reviews of DOD policies, planned investments, and procedures.

“It is imperative that the Department’s financial management systems comply with applicable requirements and guidance, address financial statement findings by auditors, and provide the reliable, useful, and timely information needed to support DOD’s financial management operational needs,” concluded the letter from lawmakers in a plea for change.

 

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