The Defense Department's Systems of Accounting for the Value of Foreign Military Sales Need Improvement
FGMSD-79-21: Published: Mar 16, 1979. Publicly Released: Mar 22, 1979.
- Full Report:
The procedures by which the Department of Defense (DOD) computes the value of foreign military sales agreements and the yearly foreign military sales ceiling were reviewed.
Approximately $1.1 billion of inconsistencies and errors in accounting for fiscal year (FY) 1977 arms sales were identified. Had the correct sales figures been known, the President's FY 1978 arms sales ceiling, based on FY 1977 sales, might have been set $420 million lower.