PracticeAuditNAO qualifies lottery fund accounts

NAO qualifies lottery fund accounts

Community Fund uncovers up to £4.5m of grant fraud

Auditor general Sir John Bourn has qualified the accounts of the body
responsible for distributing lottery funds after finding potential fraudulent
activity in some grant applications.

The Community Fund, which now operated as the Big Lottery Fund, reported that
in September last year it identified a number of grant applications that
contained irregularities – such as false names and addresses – that may have
been fraudulent.

It estimates that the total amount of grants at risk of fraud since 1999 is
now £4.5m

The National Audit Office said that the suspected frauds had not been
uncovered until now because the Fund’s systems did not include adequate checks.

Sir John said the Community Fund needed to ‘give more explicit consideration
to the risks of fraud that may exist within grant programmes intended to be easy
to access and the extent to which controls should be put in place to combat
these’.

Related Articles

Is predictive analytics the end of the annual audit?

Audit Is predictive analytics the end of the annual audit?

4d Martin Herron, MHA MacIntyre Hudson
Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

Audit Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

1w Emma Smith, Managing Editor
PCAOB sanctions former Deloitte Turkey CEOs over altered documents

Audit PCAOB sanctions former Deloitte Turkey CEOs over altered documents

2w Alia Shoaib, Reporter
KPMG South Africa to review past audit work amid fresh scandal

Audit KPMG South Africa to review past audit work amid fresh scandal

1m Alia Shoaib, Reporter
FRC introduces £10m sanctions for Big Four firms

Audit FRC introduces £10m sanctions for Big Four firms

2m Alia Shoaib, Reporter
Ukraine’s PrivatBank files $3bn claim against PwC

Audit Ukraine’s PrivatBank files $3bn claim against PwC

2m Alia Shoaib, Reporter
Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

Audit Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

2m Alia Shoaib, Reporter
Big Four dominate FTSE 250 audit market in Q1 rankings

Audit Big Four dominate FTSE 250 audit market in Q1 rankings

3m Alia Shoaib, Reporter