Beware of the Theater
This is what they jammed through while the Kavanaugh Hearings were BIG HEADLINES
Audits, Secrecy and Money .... oh my!
Pentagon DOD
#threadstorytime #bewareoftheater
FASAB 56 & What It Seeks To Hide
Who counts as a federal reporting entity?
When and how can these entities conceal or remove financial information from their reports?
What information can be removed?
When does something count as confidential, and who makes that determination?
FASAB56 allows federal entities to manipulate data and even omit spending altogether when reporting on the grounds of national security
FASAB 56 also allows departments within government to change their reports in ways that don’t reflect their actual spending, under the guise of the very grey area of how information is classified and how such information is handled with respect to unclassified reports.
FASAB 56 also undermines the reliability of government accounting standards and financial statements to such a degree, that from a public perspective they become worthless.
It also allows the addition of misleading information and information to be omitted on spurious grounds. This lack of transparency is staggering, open to potentially serious abuse and was approved by the Trump administration.
(snipped from this article) thesiriusreport.com/economics/fasa…
Timeline for
Audits and
FASAB Statement 56
01/20/2017
Donald Trump becomes 45th President of the United States after defeating Hillary Clinton.
03/20/2017
Senator Charles Grassley , says on the Senate floor that the Pentagon’s longstanding failure to conduct a proper audit reflects “twenty-six years of hard-core foot-dragging” on the part of the DOD, where “internal resistance to auditing the books runs deep.”
09/2017
Deadline set in 2009 by Congress for Pentagon to subject itself to full audit
districtsentinel.com/pentagon-hurtl…
09/30/2017
a DOD OIG report on a U.S. Navy financial statement for FY 2017 suddenly appears in heavily redacted form—not just the numbers it contains, but even its title!
10/08/2017
Fire at the New York Federal Reserve.
abc7ny.com/lower-manhatta….
12/12/2017
“Trump Signs $700 Billion Defense Budget”
upi.com/Defense-News/2…
3/14/2018
Comments due on the exposure draft of FASAB Statement 56.
During June-July 2018 proposing alternatives and comments ect..
I am mostly focusing on audits and fasab timeline throwing in some theater that was current at the time for perspective for this thread
but here is a
Full time line of missing money
hudmissingmoney.solari.com/missing-money-…
07/26/2018
fas.org/blogs/secrecy/…
09/04/2018
FBI report on Kavanaugh is sent to Senate Judiciary Committee.
First round of Kavanaugh confirmation hearings begins.
09/27/2018
Ford testimony is added to the Kavanaugh confirmation hearings
cnbc.com/2018/09/27/how…
09/30/2018
Deadline DOD gave itself for producing auditable financial statements
10/04/2018
Final Statement 56 is published, with little if any change from the exposure draft.
10/04/2018
it seems that only a few people with high-level security clearances have the authority to determine what is a national security issue, these same people will now be allowed to restate budgets to hide activity. fas.org/sgp/news/2018/…
10/06/2018
Kavanaugh is confirmed as Justice of the Supreme Court by the U.S. Senate
nytimes.com/2018/10/06/us/…
10/27/2018
private accounting firms announce they cannot complete DOD 2018 FY audit.
“The firms concluded...that the DoD’s financial records were riddled with so many bookkeeping deficiencies, irregularities, and errors that a reliable audit was simply impossible.” thenation.com/article/archiv…
11/27/2018
DoD has literally been making up numbers in its annual financial reports to Congress—representing trillions of dollars’ worth of seemingly nonexistent transactions—knowing that Congress would rely on those misleading reports when deciding how much money to give the DoD
Pentagon accounting adjustments for 2017-2019 is $97 Trillion
bloomberg.com/news/articles/…
They cant pass their own audits but want to hire more IRS agents for you.
Under the Trump Admin they allowed for more ability to conceal Dollars in their reporting.
Not transparency.
This is what they do behind your back while giving you fake news & theater.
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