2.5 Internal Audits and Internal Investigations – What are the pitfalls, and how to avoid them?
Level: Intermediate
The role of internal audit includes providing independent assurance of the effectiveness of the organization’s policies and procedures. Internal auditors embrace the principles of ethics, honesty, and integrity to establish a positive workplace culture.
These ethical principles allow internal auditors to play a vital role in receiving and investigating complaints. Internal auditors recommend process improvements to prevent fraud and may also detect fraud and corruption through their work.
Not all frauds or ethical investigations are the same, and significant interpersonal, organizational, or cultural factors can hinder an investigation. This session will provide internal auditors tips on good practices and avoiding pitfalls others have experienced while investigating.
What is critical in each stage of an investigation? What contingencies should we be planning for? How do we ensure the validity and quality of an investigation?
Michael McCormack, MNP’s Forensic Specialist, will share his experiences in fraud and ethics by discussing some surprising investigations; how they were navigated, how they were mitigated, and what preparations an internal auditor can do now to ensure issues are mitigated, and the appropriate investigative procedures are undertaken.