Published Paper Details:

All agencies are subject to fraud risks and are required to undertake a fraud risk assessment for their entity at every level. A detailed fraud risk assessment is to be performed by division and/or function. The search for Fraud seems to be like a daunting responsibility. However fraud in its simplest form should be easy to find. The key to finding fraud is looking where fraud is and has been.Fraud Auditing is a proactive audit approach designed to respond to the risk of fraud. By performing afraudriskassessment,theidentifiedfraudriskisassociatedwiththecorebusinesssystems. The audit procedures are designed to reveal the true nature of the transaction. Fraud risk assessments start with a definition of Fraud and the type of Fraud facing organizations. The assessments can be based on a legal definition, an accounting definition for fraud risk assessments. Fraud encompasses a range of irregularities and illegal acts characterized by intentional deception or misrepresentation, which an individual knows to be false or does not believe to be true.