Home Office - That's the way the money goes, pop goes the weasel.
Accounts for Home Office adrift by trillions - Newspaper Edition - Times OnlineA National Audit Office review of transactions carried out on the Home’s Office’s financial IT system found problems with the data. “When the gross transaction value of debits and credits within this data was totalled, they each amounted to £26,527,108,436,994: almost 2,000 times higher than the Home Office’s gross expenditure for 2004-05 and approximately one and a half times higher than the estimated gross domestic product of the entire planet,” a note from the National Audit Office said.
“This suggests something has gone seriously awry. We have yet to receive an explanation for what has happened,” the note added.
Last night Richard Bacon, a Conservative member of the committee, said: “In any parish council or cricket club the person responsible would have been out on his ear. What actually happened was that Sir John was promoted to become Deputy Governor of the Bank of England in charge of financial stability in the banking system.
“You might reasonably expect to see this in a Gilbert and Sullivan opera, but not in real life.”
Today’s report states that the department wrote off a £3 million discrepancy between its in-house cash records and its bank statements without further investigation. It said that the failure of the department to produce proper accounts was symptomatic of poor management.
Sir John is crititicised for failing in his duty to Parliament to produce auditable statements for 2004-05