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Internal Financial Controls Indentify Fraud at the Royal Academy

Thursday 3rd May, 2012

The former Finance Director of the Royal Academy of Music, Janet Whitehouse has admitted to defrauding the institution across a four year period of more than £200,000. The various fraudulent activities included claims for work which hadn't actually been carried out, and for accommodation for her son, paid for by the Academy.

Sainsbury's buyer accepts £5m Corrupt Payments From Supplier

Wednesday 2nd May, 2012

A Sainsbury’s potato buyer accepted £5 million in corrupt payments from a key supplier, staying at Claridge’s and taking luxury holidays in return for a lucrative contract. The buyer was lavished with "excessive gifts and hospitality" by directors of Greenvale, which supplies almost half of the supermarket giant’s potatoes, a court has heard.

A peculiar feature of the corruption was that it was self-funding. Greenvale were not paying for it, Sainsbury's were paying for the corruption of their own buyer and this was achieved by overcharging Sainsbury's. Read more.

Basware Helps Set the Standard in Europe

Wednesday 2nd May, 2012

Further proof came today that the major shift within the e-invoicing market is towards increased legislation and standardisation, with the announcement that Basware has built PEPPOL (Pan-European Public Procurement Online) compliant procedures and protocols into all of its e-invoicing solutions. With some European countries edging towards the use of mandating einvoicing, this looks like a sensible move for Basware. In fact the company's implementation of PEPPOL comes just three months before the Norwegian Government will mandate contracting authorities, requesting that all suppliers must invoice them electronically with the use of PEPPOL infrastructure as the preferred approach.