Unit 7 Fraud: Shortage of internal auditors to fight fraud

 A timely article on tackling fraud :

51% of internal auditors say they have too few staff to deal with fraud

Written by Gavin Hinks

Accountancy Age, 02 Nov 2010

A little more than half of internal auditors say they have too few staff to deal with fraud.

The research in Deloitte's first Fraud Survey also concludes that a fifth of those polled said their companies had no formal fraud policy. More than 60% said their vulnerability to fraud had increased in the past 18 months.

 

Nic Carrington, a partner at Deloitte, said: "In spite of the high profile cases of fraud that have come to light during the economic downturn there is a worrying gap between talk and action.

"77% of respondents stated that the economic environment has generated board level discussion on either introducing and/or enhancing fraud risk monitoring, but the day to day practicalities of delivering these monitoring procedures are proving challenging."

Read more: http://www.accountancyage.com/accountancyage/news/2272569/shortage-internal-auditors#ixzz148OesW6Y