Assessing the risk of fraud in the internal audit mission
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Date
2019
Authors
Journal Title
Journal ISSN
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Publisher
„Independenţa Economică”
Abstract
The purpose of an internal audit is to provide advice and provide objective assurance on the
effectiveness of the managerial internal control system by providing recommendations that ensure and
contribute to improving the work of the public entity. By assessing systems, processes, high-risk activities in
the presence of errors, fraud, irregularities or significant non-conformities. The reality shows that,
depending on the determinants, synthesized in pressures, opportunities and attitudes, there are significant
differences in the risk of fraud. Differences can be identified at different levels of the internal control system,
areas of activity and in different times, between financial years. The risk of fraud and corruption must be
managed by the entity's management but also regularly evaluated by the internal auditor in conducting audit
engagements. The establishment, assessment of the control environment and the management of major risks
with a high degree of fraud implies a concise mechanism of effective activities in the prevention of fraud and
corruption at entity and process level. This article will outline the basics of fraud in the public entity, the
assessment of fraud risk by internal auditors using non-statistical models and indicators.
Description
Bibliogr.: p. 34 (10 titl.). JEL classification: H83, G32, M42, C33.
Keywords
internal audit, fraud risk, internal control, fraud, audit mission, entity
Citation
BULAT, Inga, PERCIUN, Rodica. Assessing the risk of fraud in the internal audit mission. In: The Journal Contemporary Economy = Revista Economia Contemporană. 2019, vol. 4, issue 2, pp. 27-34. ISSN 2537-4222.