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:
‘missing’ £6.6bn of hardware
Craig Maxwell joins the audit and assurance team in Scotland
Stephen Grayson to join the audit department in Manchester
Promotions have been made in the private clients tax team and corporate business team
Firm expands East Anglian team with appointments to the audit practice and private client tax team