NAO qualifies Department for Work & Pensions' accounts

NAO finds massive losses in DWP due to fraud and error

Written by AccountancyAge.com

The National Audit Office has painted another bleak picture of the financial controls within the Department for Work & Pensions after qualifying its 2005/2006 accounts for the 17th time.

Its report into the government department found £2.7bn in losses that came about due to fraud and error in 2005-06.

The loss represents 2.2% of the DWP's total expenditure of £124.2bn over the period.

Despite the qualification, NAO chief Sir John Bourn said 'real progress' had been made towards removing or tackling the qualifications that have been made to the department's account in recent years.

‘It is always encouraging to see such progress, but the scale of the challenge ahead remains considerable,’ he said.

Further reading:

NAO forced to qualify Commons accounts 

NAO denies changing NHS report

NAO to re-examine NHS upgrade 

Advertisement

Enjoyed this article? Help spread the word:

Comments

White papers

Related jobs

More Accounting jobs

Spotlight

Best Practice regional focus

A special report on the issues affecting firms and thier...

bryan clark, chief information officer at kpmg europe

Profile: Bryan Clark, chief information officer at KPMG Europe

Getting the right infrastructure is instrumental in consolidating KPMG’s European...

Apprentices, Arnie and Archos in the latest YP

September issue of Young Professional appraises the year for our...

Find your next job

Find your next job

Advertisement

Salary Checker

Newsletters

Sign up here for the very latest news delivered to your inbox. Choose from the following options:

Search white papers

Search white papers

Advertisement

Have your say

Should fair value accounting be suspended in the wake of the market crisis?
Yes, it's a big part of the problem
No, don't shoot the messenger

Job of the week

More finance jobs

Advertisement

Your next job