PracticeAuditSpys’ accounting weaknesses uncovered

Spys' accounting weaknesses uncovered

Accounting 'weaknesses' have been found in the financial controlsapplied to Britain's 007s and spooks - but they won't give details.

The Security and Intelligence Services financial statement for 2000-01, whichgives a bald outline of their total spending, stated the weaknesses were ‘in areas of procurement and contract and asset management’ and that they were ‘being addressed in 2001-02’.

Comptroller and Auditor General Sir John Bourn, saw greater details. He qualified his opinion of secret resource accounts for Governmentcommunications HQ, ‘because I was unable to obtain all the information andexplanations that I considered necessary regarding the valuation of fixedassets and related figures in the accounts’.

He gave details in a report which he showed to Public Accounts CommitteeChairman Edward Leigh, but which will never be seen by anyone else under secrecy conventions.

Spending by modern-day 007’s and their like, shot up by 20% from £761 million in 1999-2000 to £827 million in 2000-01.

Related Articles

PwC found negligent by US judge over Colonial Bank's $2bn fraud

Audit PwC found negligent by US judge over Colonial Bank's $2bn fraud

3w Alia Shoaib, Reporter
Deloitte South Africa investigated over Steinhoff audits

Audit Deloitte South Africa investigated over Steinhoff audits

1m Alia Shoaib, Reporter
Top 5 audit fines of 2017

Audit Top 5 audit fines of 2017

1m Alia Shoaib, Reporter
PwC replaces EY as Domino's auditor

Audit PwC replaces EY as Domino's auditor

1m Alia Shoaib, Reporter
The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

Audit The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

2m Carl Johnson, Stephensons
BDO holds off Big Four to retain top position as AIM auditor

Audit BDO holds off Big Four to retain top position as AIM auditor

2m Alia Shoaib, Reporter
FRC urged to fine Big Four firms penalties over £10m

Audit FRC urged to fine Big Four firms penalties over £10m

2m Alia Shoaib, Reporter
EY to audit Standard Chartered bank

Audit EY to audit Standard Chartered bank

2m Alia Shoaib, Reporter