Tuesday 25th November, 2014

CIPFA, the Chartered Institute of Public Finance and Accountancy, has launched a new Global Fraud Risk Register for the public sector across the world. The announcement was made at the WCOA, the World Congress of Accountants meeting in Rome.

CIPFA will now work alongside partner organisations from across the world to collate the most common fraud risks that government and public sector organisations are facing. They will then pull the various risk registers together into the first 'Global Fraud Risk Register' to be published in 2015.

This tool will allow the public sector globally to identify and react to current and emerging fraud threats to public sector organisations and help them to tackle to existing and new forms of fraud.

It will also allow organisations to improve their understand of what existing and emerging risks they face from fraudulent criminal activity so that authorities can better develop strategies on how to tackle the challenges.

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".

He aded: "This new Global Fraud Risk Register will help protect precious public resources from criminals and fraud and will be an asset to all public bodies wherever they are based."