Fraud - Anticorruption - Anti-Money Laundering

eBook: What you don't know can hurt you

Mastering Risk

Occupational Fraud 2022: A Report to the Nations

Fraud and the Pandemic: Internal Audit Stepping Up to the Challenge

Internal Auditing and Fraud

This guide discusses fraud and provides general guidance to help internal auditors comply with professional standards. Because fraud negatively impacts organizations in many ways — financially, reputational, and through psychological and social implications — it is important for organizations to have a strong fraud program that includes awareness, prevention, and detection programs, as well as a fraud risk assessment process to identify risks within the organization. To help organizations and internal auditors combat fraud, the guide discusses:

• Fraud awareness (e.g., reasons and examples for fraud and potential fraud indicators).
• Fraud roles and responsibilities.
• Internal audit responsibilities during audit engagements (e.g., execution responsibilities and communicating with the board).
• Fraud risk assessment (e.g., identifying relevant fraud risk factors and mapping existing controls to potential fraud schemes and identifying gaps).
• Fraud prevention and detection.
• Fraud investigation.
• Forming an opinion on internal controls related to fraud.

The guide also includes reference material, questions to consider, and a fraud risk assessment template.
Applicability

This may be applicable to and useful for:

• Chief Audit Executives (CAEs).
• Boards.
• Executive and operating management.
• Other assurance providers (OAPs).
• Other professional regulatory bodies.

GTAG 13 - Fraud Prevention and Detection in an Automated World

As technology advances, so do schemes to commit fraud. Therefore, technology can not only be used to perpetrate fraud, but also to prevent and detect it. Using technology to implement real-time fraud prevention and detection programs will enable organizations to reduce the cost of fraud by lessening the time from which a fraud is committed to the time it is detected. Considering this, it is crucial that auditors stay ahead of fraudsters in their knowledge of technology and available tools. This GTAG focuses on IT related fraud risks and risk assessments and how the use of technology can help internal auditors and other key stakeholders within the organization address fraud and fraud risks.

Through a step-by-step process for auditing a fraud prevention program, an explanation of the various types of data analysis to use in detecting fraud, and a technology fraud risk assessment template, the GTAG aims to inform and provide guidance to chief audit executives and internal auditors on how to use technology to help prevent, detect, and respond to fraud. The GTAG also supplements The IIA’s practice guide, Internal Auditing and Fraud, and informs CAEs and internal auditors on how to use technology to help prevent, detect, and respond to fraud.

REG. IVASS n. 41 - I controlli della funzione di Internal Auditing sul sistema antiriciclaggio.

Funzione Antiriciclaggio