The report warned there were no adequate controls over invoices, debt recovery, expenses and overtime payments.
KPMG’s report showed the extent to which the failures were eating away the Met’s Pounds 2bn annual budget, diverting money away from front line resources, although it was unable to put a precise figure on the losses.
The results of the audit were revealed by Lord Harris of Haringey, chairman of the new Metropolitan Police Authority, who described the lack of financial control as ‘shambolic’.
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