A Charity Commission inquiry report has been published into the activities of Made in Wales Stage Company Limited.
The inquiry was opened in June 2001 following a case of unauthorised borrowing by the Company?s former administrator in 1998. When a new administrator found discrepancies of £14,500 in the charity?s financial records, the trustees contacted the Police and the administrator concerned was successfully prosecuted. The Commission?s investigation found that the lack of internal controls had facilitated opportunity for abuse, and set up an inquiry to establish whether the trustees had taken appropriate action in attempting to recover the lost funds, and the extent to which new financial controls were effective. The charity has since been pursuing the repayment in full through the re-mortgage of the former administrator?s property. The inquiry has concluded that financial controls have been tightened, including joint financial responsibility, two signatories for all cheques and the presentation of invoices prior to payment. Bank statements are now sent to a trustee as well as to the administrator.