There are currently eight different departments with power to investigate and prosecute fraud. But, none appear to have full control over policy or the channelling of resources in the fight against money laundering and fraud.
George Staple QC, chairman of the FAP, recommended a national commission while appearing before the Commons international development select committee’s corruption inquiry.
Under Staple’s proposals, the national fraud commission would monitor the present system to detect and pursue fraud cases until the verdict. It would also look at the time it takes between the discovery and reporting of fraud.Fears have been raised that the involvement of so many different departments results in a failure to focus.
ACCA unveiled new research showing that in almost 70% of cases of fraud, management overrode financial controls to allow the fraud to take place. ACCA’s report looked at the incidence of fraud in more than 300,000 British companies.
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Company bosses are considering relocating operations or headquarters away from the UK following the country's decision to leave the European Union