"A faulty IT system handling the army payroll had resulted in £140 million of net errors, according to the MoD accounts. The NAO said that limited checks had allowed a rise in suspected fraud."
^^ More like gross error.
Bowan Radios unaccounted for - £155 million
"The document also showed the MoD had been unable to account for £155 million worth of secure radio sets issued to troops fighting in Afghanistan and Iraq."
^^ Send those responsible to the front-line for a stock-take of Bowman Radio. No wait, that could be a PR disaster as the Taliban might want to throw a thank-you party for those loosing military assets. [show less]
He doesn't explain why a core site within the Ministry of Defence with an operational life that is not surplus to requirements went on the market for £47 million only to be leased back to the taxpayer at a cost of £140m over 20 years. That's a 200% ROI giveaway at 10% annually for someone, but who?
Senior Officials admit that it doesn't make Financial sense and blame the MoD's perilous financial situation on the sale. A poor excuse. [show less]
on July 21st, 2009. Tags: accounts, audit, decadence, finance, funding, lost, mod, payroll, press, waste
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MoD budgeting 'harms' UK missions
http://news.bbc.co.uk/1/hi/uk/8216556.stm
^^ killing them I'd say