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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: MSI who wrote (260010)	5/31/2002 3:26:41 PM
From: DavesM	Read Replies (1) \| Respond to of 769667

From what I understand, the very first attempt to do a complete financial audit of the Federal Government (and individual departments) did not occur until the mid to late 90's (I think, as a result of laws passed in 1990 and 94). I think this means, that until that time, almost no agency in the Federal Government was required to be able to document expenditures to the level that are now required - in order to reconcile a full financial audit. Basically I guess this means that after a couple hundred years, the Federal Government changed its financial reporting requirements. This change, probably necessitates a change in the way that expenditures are documented and recorded. The problem lies in going back to the beginning of the DOD and trying to reconcile the past (governmental) record keeping with current financial standards. Thus the improperly documented $2 Trillion.