Every internal and external organizational stakeholder has a role to play in mitigating the risk of fraud. The impact of fraud can include loss of assets, reduced efficiency, noncompliance with laws and regulations, and diminished reputation. Internal auditors are a vital element in an organization's approach to addressing fraud risk management.
This second edition practice guide supersedes the practice guide, "Internal Auditing and Fraud," originally issued in 2009.
For more on the subject of fraud and internal audit's role, please visit the Anti-Fraud Collaboration.