Falling prices will expose FCW claim
FORESTRY Commission Wales (FCW) has left itself vulnerable to falling timber prices, a report has found.
The Wales Audit Office said FCW's income from sources other than timber sales had decreased considerably since its last inspection five years ago.
"This failure to diversify its income base makes FCW vulnerable to falling timber prices," said the audit office report.
It found the FCW had improved in some areas of risk management, but not others. The report said it wasn't clear if FCW had identified opportunities to improve the way it runs its business and delivers responsibilities — even though its own risk management policy requires it to do so.
Business Cards From Only £10.95 Delivered www.myprint-247.co.uk
View detailsOur heavyweight cards have FREE UV silk coating, FREE next day delivery & VAT included. Choose from 1000's of pre-designed templates or upload your own artwork. Orders dispatched within 24hrs.
Terms: Visit our site for more products: Business Cards, Compliment Slips, Letterheads, Leaflets, Postcards, Posters & much more. All items are free next day delivery. www.myprint-247.co.uk
Contact: 01858 468192
Valid until: Sunday, May 26 2013
Auditors also found a contract for security services exceeded its estimated three-year value within two years, and did not comply with FCW's own procedures — nor those of the Official Journal of the European Union, as it should.
The FCW is merging into a new body, Natural Resources Wales, on April 1.
Auditor General for Wales, Huw Vaughan Thomas said: "FCW has made marked progress since we first reported in 2008 but significant challenges remain for its successor."
Comments