ERROR OF OVER THREE MILLIONS
IN NATIONAL FACTORIES ACCOUNTS. In the report on the accounts of the National Factories and Royal Aisoraft Factory for the year ending March 31, 1917, the Auditor-General 6tates that the outstanding feature of the acco'iiits is 'the complete breakdown of the headquarters records of materials sent to and from the factories. In one instance, out of JE38,0!)8 1 5 , Jfl for materials supplied •by the Ministry of Munitions no invoices were received for materials rep-c----sentini' X 15.885.502. Factory accountants, says the report, also failed to keep adequate local records. After the accounts had been certined by a firm of accountants, the c act>!-y accountants found an error of »\er X.1,000,000. In another case the stores records uei'o so unreliable that the Ministry auditors gave up the task of verifying tnem. Commenting on the Governmeut *vullin« Mill tho report states thai, against an"original estimate for capital expenditure of XliM.ooo the latest estimate reaches ,£1,200,000. While the capital expenditure estimate has !>een largely exceeded, the output has been far short of what was expected.
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Dominion, Volume 11, Issue 277, 12 August 1918, Page 6
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177ERROR OF OVER THREE MILLIONS Dominion, Volume 11, Issue 277, 12 August 1918, Page 6
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