Canadian defense department officials mismanaged plans to purchase Lockheed Martin Corp. (LMT:US)’s F-35 fighter jets and failed to adequately inform lawmakers of the cost of the plane, the country’s top auditor found.
Canada’s Department of National Defence was “too involved” with the development of the F-35 Joint Strike Fighter to run a fair competition for new jets, Auditor General Michael Ferguson said in a statement issued today.
Defence officials didn’t provide complete cost information to the nation’s lawmakers or fully inform people responsible for the decision about the risks involved in buying the jets, Ferguson’s office said after auditing the procurement process.
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