Governance and fraud control within selected Adult Education Agencies
Overview
Research indicates that Australian organisations may experience a higher incidence of fraud than the global average. It also shows that fraud is increasing in Australia, with 63 per cent of Australian organisations experiencing economic crime. The Australian Institute of Criminology estimates that fraud costs the Australian economy around $6 billion a year.
The initial audit objective of examining whether agencies’ systems, policies and procedures were robust and discouraged fraud was broadened to include agency governance arrangements after the audit found that some boards and management were not complying with agency policies and procedures.