Auditors provide reasonable assurance, not absolute assurance, that processes are effective. IIA standard 2120.A2 notes that, "The internal audit activity must evaluate the potential for the occurrence of fraud and how the organization manages fraud risk." One way to ensure this standard is met is by ensuring that every audit looks at fraud risks. This session will provide techniques used to brainstorm fraud schemes and assess fraud risks to ensure that fraud is included in each audit scope and testing for specific fraud schemes is part of each audit.

You Will Learn How To:

• Identify fraud schemes pertinent to a given audit area
• Assess an organization’s fraud risk
• Recognize red flags, metrics and other fraud indicators
• Implement fraud risk tests in an audit