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Essay / Research Paper Abstract
This 13 page paper discusses the practice of internal auditing and the ability of such a program to detect fraud within an organization. The writer discusses how the internal auditor should participate in the deterrence, detection, investigation and reporting of fraud. Bibliography lists 11 sources.
Page Count:
13 pages (~225 words per page)
File: D0_Audfraud.doc
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Unformatted sample text from the term paper:
also be the result of bad management with the ultimate result of a perpetration of fraud upon customers or within the organization itself. Internal audits have become a common
practice throughout business, in many cases such as banking or health care such audits are mandated by law as well as recommended by the industry in questions professional and educational
associations. While audit practices are generally applied to assure an organizations smooth management and responsible fiscal administration or to determine the source of a problem in either of those
areas, fraud detection has become a unique and valuable function of the greater practice of auditing. Organizations that are most likely to be the victim of a fraudulent act or
scheme are most likely to fall into four primary categories. They are predominantly of a business nature. They produce revenue and are potentially self-sustaining. They involve a
large number of businesslike transactions with the public. They require greater flexibility than the customary type of appropriations budget ordinarily permits. Certainly, each of these descriptions suits health
care, financial institutions, retail businesses, and government agencies. Each of these businesses are (or may be) at a higher risk for the execution of fraud. The careful examination
of an organization by auditors trained in detecting fraudulent practices is of great importance from moral, legal, and profitability standpoints and serves as the primary focus of this report.
The Need for Internal Auditors to Look for Fraud The expansion of the Federal governments initiatives to uncover fraud and abuse has created a demand for corporate compliance plans, especially
within regulated industries such as insurance, health care, and banking. For example, the U.S. Sentencing Commission guidelines create incentives for healthcare providers to adopt preventive measures, the most
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