The public sector

Goings on in the public sector are never far from the top of accounting news.

Most recently the demise of Railtrack, now under the administration of Ernst & Young, has hit the headlines, and continues to be a hot potato, especially for Transport secretary Stephen Byers.

The NHS continues to come under the spotlight. In December, nine NHS trusts were exposed for fiddling their waiting list figures in a bid to hit tough government targets, a damning report revealed.

And the Ministry of Defence has also failed to escape public scrutiny, with its accounts getting the thumbs-down from the National Audit Office due to out-of-date technology and a failure to account correctly for its fixed assets.

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