Impact study of Internal Audit in Fraud Detection of an Entity in the Indian Context

DOI: 10.5176/2251-1997_AF66

Authors: Sanjibkumar Basu

Abstract:

This research study examines two important issues in contemporary corporate governance. By examining the link between both the existence and the type (in-sourced versus outsourced) of internal audit function and the propensity to detect fraud, the study tries to evaluate the performance of internal audit technique as a fraud detection mechanism. Both internal and external auditors emphasize the importance of fraud identification and detection partly in response to calls by professional bodies, regulatory agencies, and the government.