Sloppy accounting by US military chiefs has meant that they could not prove
that a $5.2bn (£2.6bn) fund on equipment and services for Iraqi security forces
was used properly, an audit has found.
A report by the Defense Department’s Office of Inspector General found that
the Multinational Security Transition Command in Iraq could not provide
reasonable assurance money was used for its intended results and not wasted,
Lt Gen James M Dubik, the commander involved, has to improve controls for
keeping track of the fund – which he had already begun to do, stated the report.
Only 1% of a $438m set of purchases from a supplier could be tracked via a
paper trail, it found.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Investment in people, tech and businesses impacts on EY's profit per partner figure
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned