Role of Internal audit In fraud detection: Ethiopian public sector: Role of internal audit

Price: $40.00
(as of Dec 28,2024 09:43:31 UTC – Details)

Publisher ‏ : ‎ LAP LAMBERT Academic Publishing (May 22, 2017)
Language ‏ : ‎ English
Paperback ‏ : ‎ 76 pages
ISBN-10 ‏ : ‎ 3330067314
ISBN-13 ‏ : ‎ 978-3330067318
Item Weight ‏ : ‎ 4.6 ounces
Dimensions ‏ : ‎ 5.91 x 0.18 x 8.66 inches

Internal audit plays a crucial role in detecting and preventing fraud within the Ethiopian public sector. With the increasing complexity of government operations and the growing number of transactions, the risk of fraud is ever-present. Internal audit serves as the first line of defense in identifying and addressing fraudulent activities.

One of the key roles of internal audit in fraud detection is conducting regular and thorough audits of financial records, processes, and controls. By reviewing transactions, analyzing financial statements, and assessing internal controls, internal auditors can identify any irregularities or suspicious activities that may indicate potential fraud.

Internal audit also plays a critical role in assessing the effectiveness of existing fraud prevention measures and recommending improvements to strengthen internal controls. By evaluating policies, procedures, and systems, internal auditors can help to identify vulnerabilities and gaps that could be exploited by fraudsters.

Furthermore, internal audit serves as a deterrent to fraud by promoting a culture of accountability and transparency within the organization. By conducting audits and investigations, internal auditors send a clear message that fraudulent activities will not be tolerated and will be promptly detected and addressed.

In conclusion, the role of internal audit in fraud detection within the Ethiopian public sector is essential for safeguarding public resources, ensuring accountability, and maintaining public trust. By conducting regular audits, assessing internal controls, and promoting a culture of integrity, internal audit plays a vital role in preventing and detecting fraud.
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