MoD ‘lacking in financial skills’

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Defence chiefs have been criticised by MPs over a “worrying lack of financial expertise” that is forcing them to spend taxpayers’ cash on 100 outside accountants to sort out a string of errors.

The Ministry of Defence now has one outside expert for every ten in-house accountants as it attempts to deal with the fallout of deep spending cuts and restructuring of the armed forces.

A defence select committee report demanded that the numbers be reduced as quickly as possible.

Auditors recently refused to sign off the MoD accounts for the sixth year running amid criticism for spending millions on unnecessary kit.