For those not in the know on Ben Carson, he’s the trailblazing neurosurgeon who safely split apart conjoined twins—instant, historic figure. Much like many men of greatness, he’s a multi-talented individual (re: accounting)
When President Trump appointed Carson to the US Secretary of the Housing & Urban Development Department, well, he discovered the Obama outfit to have quite an abnormally large budget in the HUD. Of course Carson called for an audit—only to find $520 billion in ledger mistakes!
“The total amounts of errors corrected in HUD’s notes and consolidated, financial statements were $516.4 billion and $3.4 billion, respectively,” Carson’s auditors noted.
But that was just the proverbial icing… Carson’s team cut deeper:
“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 non-pooled 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 sub-ledger and general-ledger accounts. This audit report contains 11 material weaknesses, seven significant deficiencies, and five instances of noncompliance with applicable laws and regulations.”
The above issues were found and reflective of three, previous audits. Carson’s team explained these perpetual issues “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.”
It’s likely Carson will be sending some “WTF” correspondence Julian Castro’s way. While no, actual lives are at stake, the beyond-obnoxious fortune in question certainly parallels anything going on the US. “Look out, Castro, Carson might be calling for an operating procedure on you—and your associates.”