Eindhoven plays with community funds!
This week, an article in the Eindhoven Dagblad (ED) was published with regard to the irregularities on the relocation of some caravans (total costs approx 9 Million Euro). The city of Eindhoven had an external interim manager appointed (which according to the ED also in other municipalities delivered insufficient quality of work) without the necessary antecedents investigated (1st risk). This interim manager was insufficiently controlled and managed with respect to the project objectives (2nd risk). The internal organization was apparently insufficient laid out to run projects on this scale (3rd risks) and finally the local government admitted that the accounting of the project expenses was not sufficiently transparent and could no longer be retrieved (4th risk) .
All in one, the municipality has taken clear risks with public money without an adequate control structure in place.
This example again shows that major risks are taken where this is not necessary because a small investment in a setup of the appropriate controls can be implemented and the financial consequences of such projects will be minimized!
For information, please contact our organization and we are happy to inform you on possibilities.
Exchange risks on foreign currencies
We still see economies suffering worldwide and stock markets still very volatile. South-Europe has problems with the budget deficits causing pressure on the Euro. U.S. is in anticipation of the presidential elections in November, but it is unclear how this will impact the dollar? Japan has continued uncertainty with respect to their basic economy and China’s economy will grow less compared to previous years.
How will this influence the exchange risks between these world currencies? Certainly the volatility will increase and the risks in the exchange rates will increase significantly. Do you have these risks identified and do you have controls in place to manage this?
We advise you to check this so you are not negatively affected by the potential Forex movements in the next (half) year.
Security still a challenge?
Today’s news shows in the Netherlands that reporter Brenno de Winter was able to enter all kinds of official premises with a fake ID, a. o. the Royal Palace and the national security service (AIVD). How is your security organised? Do you have clear visibility who enters your premises and what these persons are doing there? For a review of your security and risk status you can contact us.
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