Audit the Pentagon Act of 2021

Audit the Pentagon Act of 2021

This bill requires defense spending reductions during any fiscal year after FY2022 where the Comptroller of the Department of Defense (DOD) fails to certify that a department, agency, or other element of DOD has achieved an unqualified opinion on its full financial statements. The amount of any reductions must be deposited in the General Fund of the Department of the Treasury and must be available for deficit reduction.

The bill excludes from any reductions accounts related to military personnel, reserve personnel, National Guard personnel, and the Defense Health Program.

The President may waive a reduction if the President certifies that a reduction would negatively affect (1) national security or members of the Armed Forces who are deployed in combat zones, or (2) the Defense Health Program account.

Bill 117 HR 4272, also known as the Audit the Pentagon Act of 2021, is a piece of legislation introduced in the US Congress with the aim of requiring the Department of Defense (DoD) to undergo a comprehensive financial audit. The bill seeks to increase transparency and accountability within the Pentagon by mandating that the DoD submit to an annual audit conducted by an independent third-party auditor.

The Audit the Pentagon Act of 2021 is designed to address concerns about the DoD's long-standing inability to pass a financial audit. Despite being required by law to undergo an audit since 1990, the DoD has consistently failed to achieve a clean audit opinion. This lack of financial accountability has raised questions about how taxpayer dollars are being spent within the Pentagon.

If passed, the bill would require the DoD to provide detailed financial statements and records to the independent auditor, who would then assess the accuracy and reliability of the department's financial information. The results of the audit would be made public, allowing Congress and the American people to better understand how the DoD is managing its budget and resources. Supporters of the Audit the Pentagon Act of 2021 argue that increased financial transparency and accountability within the DoD are essential for ensuring that taxpayer dollars are being used effectively and efficiently. By requiring the Pentagon to undergo an annual audit, the bill aims to promote good governance and responsible stewardship of public funds. Opponents of the bill may argue that the audit process could be costly and time-consuming for the DoD, potentially diverting resources away from critical national security priorities. However, proponents maintain that the benefits of increased financial oversight and accountability outweigh any potential drawbacks. Overall, the Audit the Pentagon Act of 2021 represents a bipartisan effort to address longstanding concerns about financial transparency within the Department of Defense. If passed, the bill has the potential to improve accountability and oversight within the Pentagon, ultimately benefiting both taxpayers and national security interests.