An inspectors’ report into the Serious Fraud Office has found the organisation is on the ‘right track’ to tackling some of its problems and that it has made improvements in its handling and progressing of cases.

HM Crown Prosecution Service Inspectorate previously inspected the SFO’s case management in 2019. Inspectors made seven recommendations covering resource management, training, staff compliance with operating procedures, consistent use of external counsel and tackling the backlog in processing digital material.

The 116-page report, published today, finds that the SFO has fully met three of the recommendations made in 2019 and partially delivered on the other four. It acknowledges that ‘while there is still work to be done, the SFO has made concrete progress’. A further three recommendations have been made in the new report.

The report said that ‘long-standing issues have started to fall away’.

It adds: ‘The ineffective leadership and staff working in silos which we found in 2019 have been addressed. A new narrative has been developed – staff are a resource of the organisation, not just of the individual case they are working on.

‘The SFO is dealing with resources strategically by exerting more control over when to move cases to the investigation or prosecution stage whilst ensuring that de-prioritised cases are being managed and commence when resources allow.’

HMCPSI’s chief inspector, Andrew Cayley KC, said: ‘The SFO has had a mixed performance record in recent times, experiencing some high-profile case failures while also achieving several major successes. This latest inspection shows that since 2019, the SFO director and her staff have made significant advances to ensure proper case monitoring, assurance, and progression, and this is commendable.

‘There is still more work to be done but I am confident that with strengthened management processes and more direct challenges by senior management, case progression outcomes will vastly improve. This will ultimately benefit how the SFO tackles the scourge of serious and complex financial crime.’

Lisa Osofsky, SFO director, said: ‘Over the last 12 months, on top of securing the conviction of eight company executives, recovering over £100m in proceeds of crime and securing the UK’s largest ever corporate criminal conviction, we have been working flat out to improve our ability to fight serious fraud and economic crime. We accept all of HMCPSI’s recommendations.’