Accountancy firm warns of IT fraud

Third sector organisations will need to strengthen their risk assessment procedures if Charity Commission proposals that charities should list instances of fraud on their annual returns go ahead, an accountancy firm has warned.

"Developments in online banking and the increase in donors setting up direct debits mean charities run the risk of funds being intercepted by IT-proficient fraud experts," said David Dearman, a partner and forensics expert at accountancy firm PKF.

"The problem is that no one wants to talk about fraud; the last thing a charity wants is for its donors to realise their money is lining the pockets of fraudsters."

PKF is running a series of free risk-management seminars throughout the country between March and May.

Separately, the commission's consultation on serious incident reporting is due to end on 19 March.

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