Audit reveals black hole in NASA's books

Posted on: May. 15th, 2004 || Source: abc.net.au | E-mail Article | Print Article

As NASA sets course for the moon and Mars, the space agency's finances are in disarray.



Its former auditor says there are significant errors in its last financial statements and inadequate documentation for $US565 billion posted to its accounts.



NASA's chief for internal financial management says the problem stems from a rough transition from 10 different internal accounting programs to a new integrated one.



However, audit firm PricewaterhouseCoopers notes basic accounting errors and a breakdown in NASA's financial controls.

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