A government audit has revealed that roughly $619 billion in federal grants and loans given out in fiscal year 2012 have not been properly accounted for.
The latest figures come courtesy of the US Government Accountability Office, who on Friday published a report in which it warned that much-needed oversight is all too absent from a federal awards website after it discovered gross instances of ”underreporting and inconsistencies” on USASpending.gov. Continue reading “Government transparency website is missing billions of dollars, watchdogs report”