In a report on how the MoD manages the £1bn a year it spends on modifying existing equipment such as jet aircraft, the committee slated the MoD's poor financial management. Committee chairman David Davis MP blasted major shortcomings in the way equipment modifications were dealt with. Replacing the existing cash basis of budgeting with resource accounting will introduce accruals practices across all government departments over the next two years. The MoD is thought to be the furthest behind implementation of the resource accounting and budgeting project. Davies said: 'We expect the department in future to set quantifiable cost, timescale and operations benchmarks for modifications and to manage modification programmes with sufficient grip to ensure benchmarks are met.'
Scientists create a virtual reality simulation of a black hole sitting at the centre of the Milky Way
Simulations like this can help people understand complicated systems in the universe in a better way
The most luminous galaxy ever discovered is cannibalising at least three of its smaller neighbours, study finds
The galaxy radiates at 350 trillion times the luminosity of the Sun
Researchers modify genetic code of cancer-killing virus so it can target cells that protect cancer from immune system
Changing the genetic coding causes the infected cancer cells to produce a protein that kills the fibroblast cells that protect cancer
The findings can help improve the current understanding of brain development disorders, such as epilepsy or autism