PracticeAuditAccounting at Sellafield attacked over ‘lost’ plutonium

Accounting at Sellafield attacked over 'lost' plutonium

EC orders Sellafield to improve reporting procedures

The accounting and reporting for British Nuclear Group Sellafield is not
sufficient to ensure that its nuclear materials are only used for peaceful
means, the European Commission has warned.

The Commission said that the procedures that are currently in place relating
to accounting and reporting did not meet the required standards.

The company was investigated after auditors found that nearly 30kg of
plutonium, enough to make several nuclear bombs, was unaccounted for at the
Sellafield complex in February of last year.

At the time the UK Atomic Energy Agency Authority said the loss was due to
‘uncertainties inherent in the measurement systems used to produce basic data’.
It added that ‘there is no evidence to suggest that any of the apparent losses
reported were real losses of nuclear material’.

However, the EC hit out at the accounting used at Sellafield, issuing a
warning to improve procedures ahead of a further assessment. It did however
acknowledge that it did not find that nuclear material was actually lost.

Related Articles

PwC replaces EY as Domino's auditor

Audit PwC replaces EY as Domino's auditor

3d Alia Shoaib, Reporter
The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

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

1w 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

1w Alia Shoaib, Reporter
FRC urged to fine Big Four firms penalties over £10m

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

3w Alia Shoaib, Reporter
EY to audit Standard Chartered bank

Audit EY to audit Standard Chartered bank

1m Alia Shoaib, Reporter
KPMG replaces PwC as Croda auditor

Accounting Firms KPMG replaces PwC as Croda auditor

2m Emma Smith, Managing Editor
EY fined £1.8m over Tech Data audit

Accounting Standards EY fined £1.8m over Tech Data audit

2m Emma Smith, Managing Editor
Top 50+50: Firms post significant growth in new tax and audit rankings

Audit Top 50+50: Firms post significant growth in new tax and audit rankings

2m Emma Smith, Managing Editor