PracticePeople In PracticeUN shipping agency criticised in auditor’s report

UN shipping agency criticised in auditor's report

The external auditor of the United Nation's shipping agency, The International Maritime Organisation, has described the organisation's financial controls as weak.

In a report leaked to the Financial Times, auditor VK Shunglu said the IMO accounts revealed weaknesses in expenditure controls that led to spending exceeding budget by £195,000.

And the auditor said the IMO’s contract with the UK government to lease its HQ on the banks of the River Thames was likely to commit the organisation to large outlays in the future.

Shunglu recommended in the report ways in which the body could change the way it operates to cut costs. According to the FT, this includes reviewing business-class transatlantic flight arrangements.

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