DWP's accounts qualified for 18th time
Sir John Bourn unable to sign off on benefit department's accounts for the 18th consecutive year
Sir John Bourn unable to sign off on benefit department's accounts for the 18th consecutive year
The Department for Work and Pensions accounts have been qualified by the
government’s public spending watchdog.
Sir John Bourn could not sign off on the accounts because an estimated £2.5bn
shortfall. Across the benefit schemes operated by DWP a total of £690m was lost
to fraud, £1.01bn to customer error, and £850m to official error, representing
2.1% of benefit expenditure.
Despite the qualification Sir John said that the DWP had made marked
improvements in trying to resolve its continuing problems. Sir John highlighted
the introduction of new systems and procedures that both reduce fraud and error
and properly value and record identified debts.
The NAO chief said: ‘Once again I have had to qualify my opinion on the
Department for Work and Pensions accounts because of the significant sums lost
to fraud and error: £2.5 bn or 2.1% in the last year.’
‘At the same time I have been able to remove two aspects of the qualification
of the Department’s accounts which is a clear tribute to the leadership evident
within the department in tackling these issues.’
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceThis follows an investigation into undisclosed personal loans and issues with an acquisition. Despite challenges, the company aims to achieve £1bn in ...
View articlePwC's decision to delay promotions in its graduate scheme, affecting around 100 graduates, is a response to reduced client demand and the aftermath of...
View articleTraditionally, audit schedules have been prepared manually, consuming significant time and resources. However, with the advancements in Artificial Int...
View articleThe FRC is promoting initiatives to foster a more competitive market, following recent high-profile accounting scandals. Read More...
View articleOn January 27, it was reported EY had quit as auditor to Asda amid one of its senior partners starting a romantic relationship with billionaire chief ...
View articleDespite the increased interest in AI and ML, only 12% of respondents indicate their organisations have adopted AI and ML within their audit functions....
View articleAs the government's independent investigation progresses, it is hoped that a clearer picture will emerge, leading to meaningful reforms within the aud...
View articleThe proposed enhancements, including the focus on material misstatements arising from non-compliance, the introduction of a risk assessment process, a...
View article