The Defense Department's Fifth Audit Fails but It's Making Progress

The defense department has failed its fifth ever audit unable to account for more than half of its assets but the effort is being viewed as a teachable moment. 1600 auditors combed through dod's 3.5 trillion dollars in assets and 3.7 trillion dollars in liability officials found that the department couldn't account for about 61 percent of its assets panagon comptroller mike macore told reporters on t Tuesday federal law since the early 1990s requires mandatory audits for all government agencies.