Audit finds MoD has £6.6bn hole in inventory

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

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