Posted On: 04/05/2014 10:01:38 AM
Post# of 5789
$6 Billion Goes Missing at State Department
The State Department has no idea what happened to $6 billion used to pay its contractors.
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
The State Department has no idea what happened to $6 billion used to pay its contractors.
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
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