Fri, Oct 23, 2020

Raising the Bar � The Role of Internal Audit in Fraud Risk Management

Kroll, a division of Duff & Phelps, recently collaborated with the UK Institute of Internal Auditors (IIA) for a webcast to discuss the findings of a global survey conducted in partnership with The Internal Audit Foundation (IAF) on 'The Role of Internal Audit in Fraud Risk Management’, you can view the webcast below. 

The Role of Internal Audit in Fraud Risk Management


  • Matthew Weitz, Associate Managing Director, Kroll
  • Kevin Hart, Associate Managing Director, Kroll
  • Liz Sandwith, Chief Professional Practices Adviser, Chartered Institute of Internal Auditors 
  • Alistair Smith, UK Internal Audit Director, EDF


  • Is the role of internal audit in fraud risk management changing worldwide? 
  • In the heightened risk environment, how should the internal audit function raise the bar and respond?
  • What’s the role of internal audit in fraud risk management?


Who Is Responsible for Fraud Risk Management and Detecting Fraud?

The focus has shifted from not only the internal control structures but also other parties, including the external auditors who have come under much more scrutiny in recent years. There are numerous ongoing audit negligence cases where questions are being raised as to why the external auditor wasn’t able to identify such a massive fraud that posed an existential risk to the business. Increasingly, we're also seeing internal auditors come under the spotlight a little bit more, and that was the trigger for doing the survey.

Read the full report here

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