7/13/21
Detailed Audit Procedures Sheryl L. Ashley, CIA, CFE, CRFAC, RFI, FCPA, CPA Partner BlueBird, CPAs
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Analyzing What Happened After Fraud Is Found… • How did the fraud occur? • What controls failed? • What controls were overridden? • Why wasn’t the fraud detected earlier? • What red flags were missed by management? • What red flags did internal audit miss? • How can future frauds be prevented or more easily detected? • What controls need strengthening? • What internal audit plans and audit steps need to • be enhanced? • What additional training is needed?
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