Ben Carson, a man of many talents, is not only a brilliant neurosurgeon, but is also a brilliant accountant. Ben Carson was handpicked by President Donald Trump to fill the role as the Head of the Department of Housing and Urban Development. The budget for this department grew drastically under former President Barack Obama.
As soon as Carson took office, he ordered an audit of the agency. Lucky for the American people that he did, because he found $520 billion in book keeping errors. RIDICULOUS! This is not the first time this department has had such problems. In the past 3 audits, they had similar problems and despite being warned, they STILL did not resolve their issues. Now, all these problems have fallen into Carson’s lap and it’s going to be his job to clean this department up.
From Daily Wire:
There were several other unresolved audit matters, which restricted our ability to obtain sufficient, appropriate evidence to express an opinion. These unresolved audit matters relate to (1) the Office of General Counsel’s refusal to sign the management representation letter, (2) HUD’s improper use of cumulative and first-in, first-out budgetary accounting methods of disbursing community planning and development program funds, (3) the $4.2 billion in nonpooled loan assets from Ginnie Mae’s stand-alone financial statements that we could not audit due to inadequate support, (4) the improper accounting for certain HUD assets and liabilities, and (5) material differences between HUD’s subledger and general ledger accounts. This audit report contains 11 material weaknesses, 7 significant deficiencies, and 5 instances of noncompliance with applicable laws and regulations.
The same problems were detailed for each of the last three audits, and the auditors say the continued problems “were due to an inability to establish a compliant control environment, implement adequate financial accounting systems, retain key financial staff, and identify appropriate accounting principles and policies.”