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20 Aug 2009
The Ministry of Defense has been found to have gaping holes in its record keeping systems with £6.6bn in inventoried military equipment, missing.
The National Audit Office has refused to sign off on the MoD's accounts citing an `inadequate level of evidence' regarding the existence of assets, The Financial Times reports.
The misplaced stock includes machine guns, night vision goggles, encrypted radios, body armour along with £350m worth of fighting vehicles.
An internal audit has begun aimed at overhauling the internal management systems. The MoD said the stock was `never physically lost' and that the audit office's figure was an `extrapolation'.
Read the full story: MoD ‘missing’ £6.6bn of hardware
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