Following an audit of the town of Wilton’s internal controls, consulting firm Blum Shapiro recommended separate audits be conducted to detect material misstatements, noncompliance and fraud.
On Thursday, Feb. 5, the Board of Finance decided to hire Blum Shapiro to conduct fraud risk assessments for the town, as well as the Board of Education, whose expenses represent $91.2 million, or 68.3%, of the town’s $133.6 million in expenses, according to Blum Shapiro.
Board of Finance Chair Warren Serenbetz told The Bulletin the fraud risk assessment will look at the operations of the town and Wilton Public Schools and assess where there might be opportunity for fraud.
“The assessment is not time-based. It is not looking for fraud past or present. It is looking for areas where there might be potential for fraud in the future,” he explained.
“To my knowledge, neither the town nor schools have had a fraud risk assessment conducted before.”