Wed, Jul 29, 2020

Kroll/IIA Report – Internal Audit’s Role in Fraud Risk Management

Download the Report
This field is required
This field is required
This field is required
This field is required
The field is required
This field is required A valid email address is required
Please select an Option
This field is required
We will use this information to respond to your inquiry and process your data in accordance with our privacy policy.

In this report, Kroll, the Institute of Internal Auditors (IIA) and the Internal Audit Foundation identify that greater empowerment of and increased investment in internal audit can have a significant impact on the effectiveness of fraud risk management programs. 

Key highlights include:

  • Empowering and investing in internal audit teams improves effectiveness of fraud risk management
  • 80% of internal auditors say they face barriers to involvement in fraud risk management 
  • Nearly half of respondents said internal audit isn’t involved in strategic decision making
  • 60% of internal auditors who said they were “extremely involved” in enterprise-wide fraud risk management reported that the fraud risk management process was very effective or excellent, compared with 31% of those who were “very involved”

The report, based on a survey of over 700 internal audit professionals across the globe and across industries, reveals that the vast majority (80%) of internal auditors are facing barriers to being involved in managing fraud risk, despite almost two thirds (62%) saying they had seen an increase in fraud incidents over the past five years.

Kroll/IIA Report – Internal Audit’s Role in Fraud Risk Management /en/insights/publications/kroll-iia-report-internal-audits-role-fraud-risk-management /-/media/kroll/images/publications/featured-images/2019/kroll-iia-fraud-management-report.jpg 2020-07-29T00:00:00.0000000 publication {01699FB1-A280-41EA-B450-4639512275D3}{DA7FC1B3-263E-4E6F-A7B4-959AA91A95D3}{CEBF9DCE-215C-42E3-9503-39B87D6BFFE0}{C35C85F0-34E0-43FB-A777-FF5707658007}{E380A167-374B-476E-BD7F-7112C74B640D}{141B69D9-7DC2-4569-80AB-A53C94AA16A3}{9FD1BB57-719D-44EE-9D4A-2E89D336D607}{CAFACF84-081D-4699-B644-A1F27F0E4031} {70E25357-B690-49B8-948F-958DAD26DCD4}{2DEEE4D2-8278-4C50-B3FF-1563BB257804}{6B18A490-2227-426A-A1D0-3836822E90EB}{39CF2F22-8547-4079-A077-D3B865646DE7}{C709DABB-FEDB-4060-9674-41B14868A4CC}

Stay Ahead with Kroll

Forensic Investigations and Intelligence

Providing clients with global investigative expertise to help make critical decisions and mitigate risk.

Fraud / Corruption Prevention and Detection

Helping companies and governments mitigate and detect fraud and corruption risk.

Forensic Accounting and Disputes

Forensic accounting and expert services related to fraud, bribery, corruption and financial misconduct.

Regulatory Investigations

Providing clients with the facts and insights they need to respond confidently to regulatory issues.

Forensic Audits

Helping companies, international development agencies and governments investigate fraud and corruption.

Workplace Misconduct Investigations

Helping clients determine what happened, how it occurred and who was responsible.

Asset Tracing and Recovery

Tracing funds and identifying assets through complex money laundering schemes and corporate structures.

Monitorships

Independent monitors with local knowledge, industry understanding and competition experience.