Deloitte’s Internal Audit Fraud Challenge: prevention, protection, detection report seeks to uncover how the continued economic uncertainty and changes to the regulatory environment have influenced organisations’ focus on fraud risk and understand what impact this is having on the role of internal audit.
Watch the videos below to hear our thoughts on the key findings from this year’s survey.
The report reveals Fraud remains on the forefront of board agendas with nearly half (43 per cent) of organisations indicating that their vulnerability to fraud risk had increased in the last 12 months.
Further findings included:
- 98 per cent of organisations encourage a strong approach to fraud risk
- 79 per cent have a documented fraud policy
- 40 per cent of organisations are still not performing regular fraud risk assessments
- 76 per cent believe economic uncertainty is generating board level discussion around enhancing fraud risk monitoring
- 64 per cent believe economic uncertainty has extended the level of internal audit remit around fraud risk
- 58 per cent believe changes in regulation and legislation are leading to an increased focus on fraud risk management
- 40% of respondents do not use data analytics despite the acknowledged value of analytic techniques but over a quarter (28%) plan to implement them in the next 12 months