It has been
revealed that the SFO had failed to get approval from the Cabinet Office and
Treasury Pension and severance payments of £412,000 made to the former chief
executive of the Serious Fraud Office (SFO) and have been ruled as
"irregular".
The National Audit Office said the payments to Phillippa Williamson were
"made without proper authorisation".
As a result, the National Audit Office (NAO) said it was
"qualifying" the SFO's annual accounts for 2011-12.
Small wonder that organisations such as the FSA and SFO have become
objects of ridicule at a time when the need for the most robust policing of
corporate behaviour has never been greater.
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