Management Concerns
Investigative services
  • Are the staff directives including code of conduct address the risk of frauds?
  • Have we incorporated a mechanism to get frauds or resource abuses reported on timely basis?
  • Is our staff adequately skilled and trained to conduct successful fraud investigations?
  • Do we properly address the identified violations of policies & procedures?

Investigative Services

In recent years the importance of good corporate governance has received significant public and regulatory attention. At the same time, there has been a significant public concern over the risks of frauds within organizations. Internal Audit Functions is a crucial part of an entity's corporate governance structure and has a significant role fraud prevention and detection.
There are two types of intentional misstatements relevant to the auditor. Those that originate from fraudulent financial reporting and others that result from misappropriation of assets and resources.
Various studies performed on the subject suggest that the organizations with an internal audit function are more likely to detect fraud than those without such a function. These findings further suggest that internal audit adds value through improving the control and monitoring environment within organizations to detect fraud.
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