Government loses $17bn in accounting error
By Chris Ayres in New York for the London Times
AS ACCOUNTING errors go, it is a whopper. The US Treasury has admitted that it
has lost $17.3 billion (£11.7 billion) because of shoddy
book-keeping enough to buy a fleet of eight B-2 stealth bombers and still
have change for jet fuel.
The admission, contained in the 2001 Financial Report of the United States
Government, is likely to infuriate firms that have been targeted by the Bush
Administration for sloppy accounting.