According to reports, the loss, which is 30 times greater than the Enron black hole, is revealed in the 2001 Financial Report of the United States Government and it is understood the General Accounting Officer was reluctant to sign off the accounts.
In a note to the accounts, the Treasury blamed three factors – the failure of government agencies to keep accurate books, errors in reporting various contracts between government agencies and problems with the timing of certain costs and revenues.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements