Defense finance systems over budget, years behind schedule

Thursday - 9/30/2010, 4:13pm EDT

According to a Government Accountability Office report, the Defense Department's finance systems are $6.9 billion over budget, NextGov reports.

After a $5.8 billion investment, six out of nine Defense IT systems critical to the department's ability to achieve a financial audit are two to 12 years behind schedule.

Congress required DoD to complete an independent audit by 2017, but that likely won't happen, NextGov reports.

"If this were a corporation in America, the shareholders would have fired management long ago." said Sen. John McCain (R-Ariz.) in the story.

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