Overview :
A fraud audit is a detailed examination of the financial records of a business, with the intent of finding instances of fraud. This procedure is more detailed than a normal audit, since some types of fraud involve such small amounts of money and other assets that they might fall below the standard materiality threshold.
Fraud arises in organizations generally because there are opportunities to do so or the people committing the fraud are under pressure and have a rationalization for their activities.
Fraud auditing is a process that should be integrated into the culture of an organization so that transparency and integrity can take root. When auditing is done on a consistent basis, even those that are tempted to commit the offenses are deterred.
