Watchdog calls out HUD for $500B-plus in accounting ‘errors’

by
April 11, 2017

accounting -errors
Everybody makes mistakes – but this could be an accounting error for the ages.

An inspector general audit has identified more than $500 billion in “errors corrected” in the notes and financial statements for the Department of Housing and Urban Development under the Obama administration.

According to the report released in March, HUD reissued financial statements for fiscal 2015 and 2016 “due to pervasive material errors that we identified.” Those errors were contained in a November filing.

“The total amounts of errors corrected in HUD’s notes and consolidated financial statements were $516.4 billion and $3.4 billion, respectively,” the IG said.

  • Pete Bundy

    Time for some very serious jail time.

  • Nana Monster

    Thank God for Ben Carson. Let’s hope he can clean house and maybe figure out where (and whom’s pockets were lined) the cash is.

    • Walter Flatt

      PRAY FOR CARSON. PEOPLE HAVE DIED FOR A LOT LESS.

  • David Verrinder

    Now no one needs to wonder how come all the Politicians are millionaires

    • Walter Flatt

      EVERY POLITICIAN SHOULD BE AUDITED EVERY YEAR AS ANY BUSINESS. WE KNOW HOW MUCH THEY ARE SUPPOSED TO MAKE AND IF THEY MAKE MORE, THEY SHOULD BE HELD ACCOUNTABLE.

      • Felicialfinnegan

        Google is paying 97$ per hour! Work for few hours & have longer with friends and family! !sq43c:
        On tuesday I got a great new Land Rover Range Rover from having earned $8752 this last four weeks.. Its the most-financialy rewarding I’ve had.. It sounds unbelievable but you wont forgive yourself if you don’t check it
        !sq43c:
        ➽➽
        ➽➽;➽➽ http://GoogleFinancialCashJobs333TopGardenGetPaid$97/Hour ★★★✫★★★✫★★★✫★★★✫★★★✫★★★✫★★★✫★★★✫★★★✫★★★✫★★★✫★★★✫★★★✫::::::!sq43c:….,…….

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