New Guidance Allows Government to Conceal Defense Spending from Public

Thanks to new guidance from the Federal Accounting Standards Advisory Board, government agencies will now be allowed to modify public financial statements, making it possible to distort or even conceal financial records and avoid public scrutiny over specific budget items.

In plain English, the new guidance allowed federal agencies to “modify” public financial statements, with essentially a two-book system. Public statements would at best be unreliable, while the real books would be audited in “classified environment[s]” by certain designated officials.

Click here for article.