The result of a new, independent audit of the last years of President Obama’s term, 2015 and 2016 – show an almost criminal attempt to cover-up gross mismanagement of funds and a wealth of errors.
“The total amounts of errors corrected in HUD’s notes and consolidated financial statements were $516.4 billion and $3.4 billion, respectively.
There were several other unresolved audit matters, which restricted our ability to obtain sufficient, appropriate evidence to express an opinion.”
That is a lot of waste, fraud, and abuse.
The audit continues, noting exactly why they made a “check-up” of the department:
“Our objective was to express an opinion on the fairness of HUD’s consolidated financial statements in accordance with U.S. generally accepted accounting principles (GAAP) applicable to the Federal Government. This report presents our reissued independent auditor’s report on HUD’s fiscal years 2016 and 2015 (restated) consolidated financial statements, including an update to our report on HUD’s internal controls.”
You can see the entire audit here.pdf: https://www.hudoig.gov/sites/default/files/documents/2017-FO-0005.pdf