Insider fraud detection by an auditor is at an all-time low; currently, only 15 percent is uncovered by an internal audit (Source: 2018 Report to the Nations). The audit professional is now up against the ropes, as technology has played a significant role in how these occupational frauds are committed. Therefore, auditors must shift their mindset to create a significant increase in that figure.
Here are some tips to help the auditing profession change and improve the detection of fraud within companies:
Tip #1: Rotate Interviewers
Internal auditors naturally form relationships with those employees they work with in an ongoing manner. Those relationships may contribute to the challenge when bias comes to the forefront. Verification has become more and more important as the relationships are formed.
About Dawn W. Brolin, CPA, CFE
Dawn is a Certified Public Accountant, Certified Fraud Examiner, and CEO of Powerful Accounting, LLC. Powerful Accounting is a nationally recognized accounting, tax, forensic and fraud, IRS and State Agency audit professionals as well as a QuickBooks consulting firm. Recently, Powerful Accounting has partnered with Anderson, Brolin & Coba CPAs, LLC – a powerhouse tax preparation, consulting and wealth management firm, where Dawn is a partner. Dawn also founded, Your Turn, LLC, which specializes in application consulting and implementation for small businesses.
Dawn’s list of professional accomplishments is extensive and includes speaking and consulting for prestigious companies such as Intuit, TSheets by Intuit, Finagraph, SmartVault, Skyline Cloud Services, Mike Michalowicz, Tory Johnson, MSNBC, SEEMA, AbacusNext, The Woodard Group, and many more. Named “Top 25 Most Powerful Women in Accounting” 2012-2017 by CPA Practice Advisor, a “Top 10 Managing Partner Elite – Great Accounting Firm Leader” in 2017 by Accounting Today, and selected as a “Top 40 Under 40” by CPA Technology Magazine in 2009. Dawn continues to pursue excellence with the support of her amazing Team at Powerful Accounting.
Dawn has been featured on MSNBC “Your Business” and has spoken at Intuit’s QuickBooks Connect, Scaling New Heights, Sleeter Conference, TD Bank North locations, Tory Johnson’s Small Business Spark and Hustle Tour, Live Your Legacy Summit, and many more. Her commitment to continuing education motivates her to teach regularly to bring new techniques and processes to the accounting community.
Professionals seek out Dawn W. Brolin, CPA, CFE and her educational keynotes, webinars and articles. They enjoy her energetic and humorous delivery as well as the action ability and depth of her content.
Video of Dawn W. Brolin, CPA, CFE is available on YouTube: https://youtu.be/0olPvGhfF9M