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Insurer icare and the NSW Treasury recently hosted an event with Lewis Rangott, executive director of corruption and prevention at the Independent Commission Against Corruption (ICAC), to talk about how to prevent fraud and corruption.
The event tackled Treasury Circular 18-02: NSW Fraud and Corruption Control Policy, which requires all NSW public-sector agencies, including state-owned corporations, to develop, detect, and manage fraud and corruption, effective July 1.
The new circular sets out the key minimum requirements necessary to establish and maintain an appropriate system and corruption control, to ensure public finances are adequately protected and to guarantee accountability in the implementation of fraud and control arrangements.
icare noted that Australia consistently ranks among the world’s least corrupt countries, according to Transparency International surveys, but stressed that despite the good results, “citizens’ confidence and trust in public services is an invaluable asset that cannot be taken for granted.”
“Fraud and corruption distort the distribution of income and affect opportunities to participate equally in our society and economy,” the NSW insurer said. “To safeguard these assets good governance and risk management are essential.”
