Fraud Prevention Discussion at CUT By The Institute Of Internal Auditors SA Central Region

Fraud Prevention Discussion at CUT By The Institute Of Internal Auditors SA Central Region. The Institute of Internal Auditors South Africa (IIA SA) convened a panel discussion at the Central University of Technology (CUT) to delve into the pivotal role of internal audit in combating fraud.

Read Also: Cut Status Check Online

CUT Understanding the Role of Internal Auditors

Internal audits are instrumental in providing assurance, identifying red flags, evaluating controls, and collaborating with management to prevent and detect fraud. Ms. Arlene-Lynn Volmink, CEO of IIA SA, emphasized the importance of internal auditors in assessing fraud risks, designing prevention controls, and investigating suspected fraud.

CUT Insights From The Panel Discussion

During the discussion, Mr. Gerhard Geldenhuys from PricewaterhouseCoopers stressed the need for internal auditors to comprehend the various facets of fraud, including theft, corruption, and dishonesty. He emphasized the significance of understanding the audience and the responsibility involved in detecting fraud.

Ms. Masechaba Sesing, Head of Department at the Free State Provincial Treasury, highlighted the importance of maintaining high professional skepticism and being vigilant of red flags. She advocated for the centralization of internal audit functions to enhance their independence and effectiveness in detecting fraud.

Conclusion

The discussion underscored the crucial role of internal auditors in combating fraud within organizations. By staying abreast of fraud risks, implementing robust prevention measures, and fostering a culture of vigilance, int