RESPONSIBILITY OF INTERNAL AUDITORS IN THE MANAGEMENT OF FRAUD RISKS
DOI:
https://doi.org/10.5937/Rev2193079SKeywords:
Fraud risks, fraud risk management program, internal auditor’s due professional careAbstract
When fraud occurs in the organization, many wonder - where was the internal audit. The aim of this work is to determine what are the responsibilities of internal audit in the management of fraud risks and what regulations define them. Internal Auditing Standards and the Code of Ethics for Internal Auditors are places where the responsibility of internal auditors for managing fraud risks is established, and the Internal Audit Charter is a document that authorizes internal auditors. The internal audit function plays an important role in the overall monitoring of fraud risk management programs. This is primarily evident from the independent assurance that the internal audit function provides to the Board and management that existing fraud risk management controls are adequately planned and effective.
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