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

[Guest shiloh357]

Ben Carson was the first neurosurgeon to successfully separate conjoined twins, so, he's kind of a super hero.

But apparently, he's also not a bad accountant.

President Trump picked Carson to head the Department of Housing and Urban Development, whose budget grew by leaps and bounds under Barack Obama.

In one of his first acts as HUD Secretary, Carson ordered an audit of the agency. What he found was staggering: $520 billion in bookkeeping errors.

"The total amounts of errors corrected in HUD’s notes and consolidated financial statements were $516.4 billion and $3.4 billion, respectively," the auditors wrote.

But there were plenty of other problems, too.

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."

So, look for Carson to get out his scalpel and start operating. Or perhaps he'll use a machete.

 

http://www.dailywire.com/news/15163/ben-carson-finds-500-billion-billion-errors-during-joseph-curl?utm_source=facebook&utm_medium=social&utm_content=012917-news&utm_campaign=dwbrand

[Danger Noodle]

That number is staggering if it all shows true in the follow up. I wonder if errors is a Carson kindness for something equal to embezzlement? I ask due to this in the article concerning the accounting discrepancies:  “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." 

 

[Guest BacKaran]

Boom! Quit sending Muslams money and build that Wall!

Now if Carson can find the 2 trillion that was lost before 911, that's be awesome!!

[Kindle]

1 hour ago, shiloh357 said:

Ben Carson was the first neurosurgeon to successfully separate conjoined twins, so, he's kind of a super hero.

But apparently, he's also not a bad accountant.

President Trump picked Carson to head the Department of Housing and Urban Development, whose budget grew by leaps and bounds under Barack Obama.

In one of his first acts as HUD Secretary, Carson ordered an audit of the agency. What he found was staggering: $520 billion in bookkeeping errors.

"The total amounts of errors corrected in HUD’s notes and consolidated financial statements were $516.4 billion and $3.4 billion, respectively," the auditors wrote.

But there were plenty of other problems, too.

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."

So, look for Carson to get out his scalpel and start operating. Or perhaps he'll use a machete.

 

http://www.dailywire.com/news/15163/ben-carson-finds-500-billion-billion-errors-during-joseph-curl?utm_source=facebook&utm_medium=social&utm_content=012917-news&utm_campaign=dwbrand

I knew he would do wonderful. 

[Guest shiloh357]

3 minutes ago, worthy said:

I knew he would do wonderful. 

Me too! 

[Kindle]

Just now, shiloh357 said:

Me too! 

I remember arguing how capable he was to take this position. My auguing paid off

[Guest shiloh357]

Just now, worthy said:

I remember arguing how capable he was to take this position. My auguing paid off

Yes it did! 

[Guest]

Since the HUD annual budget is only about $33 billion a year, this would take years and years to happen. I thought this didn't add up, and it doesn't.

http://www.snopes.com/carson-hud-accounting-errors/

[Kindle]

17 hours ago, JaniceR said:

Since the HUD annual budget is only about $33 billion a year, this would take years and years to happen. I thought this didn't add up, and it doesn't.

http://www.snopes.com/carson-hud-accounting-errors/

Who runs snopes?

[Danger Noodle]

17 hours ago, JaniceR said:

Since the HUD annual budget is only about $33 billion a year, this would take years and years to happen. I thought this didn't add up, and it doesn't.

http://www.snopes.com/carson-hud-accounting-errors/

I don't think Dr. Carson said this 500 billion in errors occurred in one fiscal year. Nor do I think Dr. Carson ever claimed he himself initiated this finding to fruition. 

But, it's Snopes. They'll swing Left when it suits. And in this case they appear to hope people aren't aware of accounting terms so as to take their word for it and slander Dr. Carson. And of course by proxy, Donald Trump who appointed him to the HUD position. 

 

Aggregate: 1. General: Collective amount, sum, or mass arrived-at by adding or putting together all components, elements, or parts of an assemblage or group, without implying that the resulting total is whole (contains everything that should be in it).

Read more: http://www.businessdictionary.com/definition/aggregate.html

Therefore, aggregate sum in the Snopes claim actually supports Dr. Carson's finding.