Six Billion Pounds Unaccounted for Says M.O.D

The British Ministry of Defense (MoD) has been unable to account for more than £6 billion of equipment, the government's spending watchdog says.

The National Audit Office (NAO), the Whitehall's spending watchdog, refused on Monday to sign off the MoD's accounts for the fourth consecutive year in a row.

The head of the NAO, Amyas Morse, said that the MoD is grappling with "systematic and deep-rooted" problems within its asset management system.'

Read more...