Internal Audit and Fraud : Assessing Fraud Risk Governance and Management at the Organizational Level, 2nd Edition

Since the original edition of The IIA’s practice guide, “Internal Audit and Fraud” was released in 2009, the fraud risk landscape has changed dramatically. The evolution of technology and sophistication of bad actors continues to open new avenues for fraud.

The second, expanded edition of the practice guide is designed to support internal auditors as they rise to the challenges this increasingly complex issue has created.

The guide will enable internal auditors to:

• Increase awareness and understanding of organizational fraud risk governance and management.
• Explain the various roles responsible for preventing, detecting, assessing, and investigating fraud at the organizational level and how they interact using The IIA’s Three Lines Model.
• Describe the purpose and benefits of utilizing a fraud risk management framework, with specific reference to COSO’s Fraud Risk Management Guide.
• Explain the role the internal audit activity may play in the organization’s fraud risk management program.
• Identify the requirements for the internal audit activity to provide assurance on organizationwide fraud risk governance and management.

IIA members are invited to download this guidance and all guidance as a benefit of membership.

ADDITIONAL RESOURCES

Internal Auditor Magazine: Red Flag Risks, Lal Balkaran, CIA, FCPA, FCGA, FCMA, April 11, 2022

Anti-Fraud Collaboration: For more on the subject of fraud and internal audit’s role, please visit the Anti-Fraud Collaboration.

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Selected by Virginie GASTINE MENOU