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Sigma activities in financial control focus on two main areas: public internal financial control (PIFC), including internal audit, and the development of anti-fraud structures to protect EU financial interests.
Public internal financial control (PIFC)
To support the development of public internal financial control (PIFC) systems and procedures, including internal audit arrangements, Sigma has applied the same processes used to strengthen audit institutions – peer reviews and peer assistance. The peer review assesses strengths and weaknesses in PIFC, with a view to addressing the gap between current practices of control and audit in spending-units and existing, or newly adopted, laws (or other framework documents). Sigma work focuses on:
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Drafting and re-drafting of PIFC legislation and regulations
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Preparation and implementation of PIFC policy papers and Strategic Development Plans (SDPs)
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Financial management and control systems within budget spending-units
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Central functions to harmonise methodologies on internal control and internal audit
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Internal audit
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Risk management
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Financial control activities at central and local levels
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Budget control and accounting
See the network of financial control organisations (FCOs) here.
Assessment of anti-fraud systems
At the request of the EC/DG-Enlargement and the European Anti-Fraud Office (OLAF), Sigma carried out in-depth assessments of anti-fraud systems and structures - in particular the Anti-Fraud Co-ordinating Service (AFCOS) - in EU candidate countries.
Development of anti-fraud structures
As a follow-up to the multi-country project to assess anti-fraud systems, Sigma has assisted partner countries in drafting anti-fraud strategies and project fiches and in improving legal frameworks to strengthen their AFCOS.
The strengthening of anti-fraud structures represents a follow-up to Sigma work in support of the process of decentralising the management of EU pre-accession funds.
Recovery of assets
An important element in the anti-fraud chain of measures to project EU funds, the recovery of assets has been the focus of Sigma work in Bulgaria and Romania.To further strengthen capacity in this area, Sigma is preparing a policy paper on "Recovery of Unduly and Wrongly Paid Sums", which will focus on the recovery of debts in cases of fraud concerning the state budget and EU funds from various points of view (administrative recovery, civil actions for freezing and confiscating assets, and criminal procedures). This new Sigma Paper should be available in September 2008.
More on Sigma's priority activity areas.
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