Kieran Donnelly Comptroller and Auditor General Risk Management Looking Beyond the Financial Statements.

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Presentation transcript:

Kieran Donnelly Comptroller and Auditor General Risk Management Looking Beyond the Financial Statements

2 Financial Statement Risk Lessons from “Outliers” and Extreme Cases IT systems failure Breakdown in internal controls Going concern issues Audit failure

3 From the Micro to the Macro Balancing the books at NI Block Level Service Failure Risk The importance of Public Sector Reform and Transformation (Risks and Rewards) Long term sustainability issues: safeguarding the interests of future generations

4 Supply Chain Risk Arms Length Bodies Private Sector Contractors (SERCO, G4, Red Sky) The Third Sector (Kids Company)

5 Reputational Risk in the Public Sector Standards in Public Life The Political Interface Public Trust and Transparency Issues Perennial Themes Conflicts of Interest Severance Payments Poor treatment of Whistleblowers