Ben Carson Finds $500 Billion (Billion!) In Errors During Audit Of Obama HUD

originally posted by: Phage
a reply to: Khaleesi

He has found over $500 billion in bookkeeping errors.

No he didn't. The auditors did.

HUD's bookkeeping ain't run so good.
Last year's audit:

This audit report contains nine material weaknesses, eight significant deficiencies in internal controls, and six instances of noncompliance with applicable laws and regulations. These weaknesses were due to an inability to establish a compliant control environment, implement adequate financial accounting systems, retain key financial management staff, and identify appropriate accounting principles and policies

www.hudoig.gov...

Okay. Ben Carson ordered the audit. The audit found these issues. As I stated in my follow up post, the past 3 audits found the same and the problem was obviously not solved. The title is directly from the article. Take up the semantic issues with them, not me.

originally posted by: xuenchen
HUD looks like a real deep-pocket enterprise of well paid corruption and skimming.

Just wait until they dig into Fannie Mae and Freddie Mac.

a reply to: Khaleesi

Don't let me get in the way of your Obama bashing but I don't think the HUD budget is big enough to have that much fraud and corruption. I think it's like $20 billion per year time eight years is $160 billion for all 8 years of Obama presidency.

a reply to: Phage

So Phage, you mean to tell us that Obama isn't stealing all this money for himself and that Ben hasn't been working overtime crunching the numbers? Say it ain't so!!1

originally posted by: xuenchen
HUD looks like a real deep-pocket enterprise of well paid corruption and skimming.

Of course bookkeeping errors mean money is "missing." Right?

a reply to: Phage

Were any of that part of an audit report on my work, I would resign from my job and find different work. No doubt that my books aren't that complicated...but i don't have their manpower and education.

You can't be that negligent on accident.

originally posted by: dfnj2015
a reply to: Khaleesi

Don't let me get in the way of your Obama bashing but I don't think the HUD budget is big enough to have that much fraud and corruption. I think it's like $20 billion per year time eight years is $160 billion for all 8 years of Obama presidency.

See my follow up posts for clarification on the bashing issue.

originally posted by: Khaleesi

originally posted by: Phage
a reply to: Khaleesi

He has found over $500 billion in bookkeeping errors.

No he didn't. The auditors did.

HUD's bookkeeping ain't run so good.
Last year's audit:

This audit report contains nine material weaknesses, eight significant deficiencies in internal controls, and six instances of noncompliance with applicable laws and regulations. These weaknesses were due to an inability to establish a compliant control environment, implement adequate financial accounting systems, retain key financial management staff, and identify appropriate accounting principles and policies

www.hudoig.gov...

Okay. Ben Carson ordered the audit. The audit found these issues. As I stated in my follow up post, the past 3 audits found the same and the problem was obviously not solved. The title is directly from the article. Take up the semantic issues with them, not me.

No he didn't. Audits are an annual, sometimes semi-annual thing. Whether Ben was in charge or not, the audit would have taken place.

In accordance with the Chief Financial Officers Act of 1990, as amended, we are required to annually audit the consolidated financial statements of the U.S. Department of Housing and Urban Development (HUD) and the stand alone financial statements of the Federal Housing Administration and the Government National Mortgage Administration (Ginnie Mae). Our objective was to express an opinion on the fairness of the financial statements in accordance with U.S. generally accepted accounting principles applicable to the Federal Government. This report presents the results of our audit of fiscal years 2015 and 2014 (restated) HUD consolidated financial statements, including our report on HUD’s internal control and test of compliance with applicable laws and regulations

a reply to: bigfatfurrytexan

Never underestimate the ineptitude of a bureaucracy.

You can't be that negligent on accident.

I can't decide if that is redundant or contradictory. But I like it.

originally posted by: Phage
a reply to: Khaleesi

He has found over $500 billion in bookkeeping errors.

No he didn't. The auditors did.

HUD's bookkeeping ain't run so good.
Last year's audit:

This audit report contains nine material weaknesses, eight significant deficiencies in internal controls, and six instances of noncompliance with applicable laws and regulations. These weaknesses were due to an inability to establish a compliant control environment, implement adequate financial accounting systems, retain key financial management staff, and identify appropriate accounting principles and policies

www.hudoig.gov...

SO last year's audit found $27.2 Billion in inconsistencies and this year's found $500 Billion... either last year's audit was the definition of "half-assed" or HUD did a massive screw job to the taxpayer in the last calendar year. Either way, this is great news assuming they can resolve these discrepancies.

originally posted by: jellyrev
Ben Carson doing brain surgery on the government. Can wait for the Lobotomy.

Too late. The lobotomy happened years ago.

a reply to: Khaleesi
I'm not buying it...$500M, maybe, but BILLION?

No, I'm thinking that the audit missed something(s) very big.

ETA: I guess I must stand corrected, noting the post that linked to last year's audit of HUD which showed almost $28,000,000,000-worth of missing stuff.

Anything is possible, especially considering that it was the lame-duck year of an administration.

(In my best Oprah voice) YOU get a rubber stamp, and YOU get a rubber stamp, and YOU get a rubber stamp...rubber stamps for everybodyyyyyyyyyyy *massive audience cheers and applause*

a reply to: burdman30ott6
No, that's just the amounts of Ginnie Mae stuff.

It's more that the previous audit found things so muddled they couldn't really do anything with the numbers. So, I guess things improved?

a reply to: Phage
Ha...that's polishing a turd if I ever heard of doing so, but you have a point. At least maybe they can track all of the mistakes, now.

Well done Ben Carson - the right man at the right time for the job.
The amount of mismanagement (or corruption) being uncovered under the Obama administration is staggering.

originally posted by: Wayfarer
Guarantee'd Every Last Penny went into Obama's Pocket! Lock Her UP!!!!! MAGAMAMAMAMA!

Bit of a slip there?

Obama is a man. Guess you are thinking Hilary as the usual scapegoat.

a reply to: Phage

Or maybe the auditors actually wanted to find the problems this time around?

[snipped]
Whats the budget on hud per year? 50 billion so how in 8 years did HUD get 500 billion? 50 x 8= 400 billion so HUD basically can't account for every penny it recieved plus 100 billion extra wow I wonder if this has anything to do with who gets hud and who cant get hud plus the colorful group of people who run hud.

Maybe it was a group of HUD employees playing lose with the funds.

HUD has been that way since inception.
You guys have never heard of Catherine Fitts ???

If the America people only knew.

Buck