Strong internal controls, including maintaining a robust internal control environment, are the best way public sector organizations can mitigate fraud. However, even a strong internal control environment cannot guarantee that no frauds will take place within organizations. Implementation of further lines of defense, such as an efficient and effective internal audit function, is important. This publication describes some of the opportunities that new technologies, especially the use of data analytics, can offer for internal audits in preventing and detecting fraud, and offers good practice advice that organizations can follow in establishing effective fraud management programs.
Public Sector Internal Audit: Focus on Fraud