If you've ever wondered about the massive scale of government spending, imagine the meticulous accounting needed for a defense budget that tops $800 billion. A recent shake-up involving a major firm and the Pentagon reveals just how high the stakes are when managing those taxpayer dollars.
KPMG, one of the 'Big Four' accounting firms, recently lost a substantial contract with the Pentagon's audit agency.
This contract was for auditing the U.S. Department of Defense's (DoD) financial statements.