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$15.3M in Gold Missing from Mint Could Have Been Stolen

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The Royal Canadian Mint said Monday that $15.3 million worth of gold missing from its vaults could have been stolen.

The gold was reported missing last fall, but officials at the mint said they had hoped they would find that an accounting error was responsible.

A review conducted by auditors Deloitte and Touche, however, recently concluded that the gold wasn’t simply forgotten during inventory.

“The unaccounted for difference in gold does not appear to relate to an accounting error in the reconciliation process, an accounting error in the physical stock count schedules or an accounting error in the record keeping of transactions during the year,” the company concluded in a report released Monday.

Christine Aquino, director of communications with the mint, said that many possible scenarios are being considered.

“We’re not going to speculate on the cause just yet,” said Aquino.

“We’re not giving up on this. We’re going to pursue this rather vigorously.”

Aquino said the mint asked the RCMP to look into the matter two weeks ago.

She said in the meantime, the mint is prepared to follow three of Deloitte and Touche’s recommendations concerning its accounting procedures and building security.

“They’ve also asked that we go through our security measures for review,” said Aquino.

“But it’s just one of the avenues we’re pursuing. We have one of the most secure facilities in Canada, if not the world.”

ARTICLE CAN BE READ HERE.

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Comments (3)

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  1. ItWorker says:

    …..hmmmm…..now THAT’s interesting… :o)

  2. adrianIII says:

    $15.3 million? A pittance compared to the amounts of gold we are usually discussing.

  3. admin says:

    It is a pittance but either way, it’s good to see the MSM actually reporting it!

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