Facts: The review
The National Audit Office’s review must answer whether the Allmänna arvsfonden’s money is distributed efficiently and in a trust-inspiring manner in accordance with set goals.
The audit will focus, among other things, on the Chamber of Commerce’s control of the recipient organizations and the money paid out.
The fund’s income or its asset management are not covered by the review.
An audit report is scheduled for November this year.
Source: The National Audit Office
“We will, among other things, take a closer look at which checks are made by the organizations that apply for money, and what the money is then used for,” says Auditor General Helena Lindberg in a press release.
The fund was established in 1928 when the Riksdag decided to change inheritance law. Inheritance from people without family heirs or a valid will would go to public purposes.
Non-profit organizations that run activities for children, young people, people with disabilities and people over the age of 65 can receive support from the fund.
At the end of 2021, the market value of the fund’s net capital amounted to approximately SEK 13 billion. That year over SEK 800 million was distributed in project support and over SEK 200 million in local support.
The fund’s income has long been growing faster than contributions are distributed. This means that competition for the money is low and that there is a risk that the quality of granted projects will decrease, writes the National Audit Office.
It also points out that over the years the media has reported on abuse and weak control of the Allmänna arvsfonden’s grants.