Our latest report, in collaboration with the Institute of Internal Auditors (IIA) and the Internal Audit Foundation (IAF), revealed that during 2020-2021 there was a perfect storm in terms of the likelihood of fraud occurring and going undetected. Changing work practices and a sudden move to remote working presented new opportunities for fraudsters and cybercriminals.
The report, Fraud and the Pandemic – Internal Audit Stepping Up to the Challenge, is based on a global survey and focus groups with internal auditors, discussing how the role of internal audit in fraud risk management has changed since the start of the pandemic.
Key findings include
- 54% of internal auditors noticed an increase in cyber and phishing fraud
- The need for more continuous assurance brought internal audit more to the forefront of fraud risk management
This is the second report in Kroll’s fraud risk management series with the IAF/IIA. The first, Fraud Risk Management in Internal Audit, was based on a survey conducted in 2020, before the start of the pandemic.