CIPFA is to launch a global fraud risk register for the public sector, which will give governments, local authorities and finance professionals a means to identify and react to current and emerging fraud threats worldwide
Announcing the initiative at the World Congress of Accountants (WCOA) meeting this week in Rome, CIPFA said it will be working alongside partner organisations from around the world to collate information about the most common fraud risks that government and public sector organisations are facing.
The institute will then pull the various risk registers together into the first risk register to be published in 2015. This can be used to tackle to existing and new forms of fraud, by helping organisations improve their understanding of the risks they face from fraudulent criminal activity so they can develop strategies to tackle the growing risks of fraud.
Rob Whiteman, CIPFA's chief executive said: ‘When fighting fraud, knowledge and understanding of the risks you face give you the power to act to prevent criminal activity and protect your organisation.
'This register will help protect precious public resources from criminals and fraud and will be an asset to all public bodies where ever they are based.’
