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Learn At Lunch: What IA Should Know About Forensics

Combating Fraud with Digital Forensics Investigations

As technology becomes more advanced, fraudulent schemes have become more complex. The continually growing capabilities of fraud perpetrators have seen more sophisticated fraud approaches being employed to combat perpetrators' best efforts. 

Today’s internal auditors are expected to take a proactive role in helping their organisations manage fraud risks by ensuring that appropriate controls are in place to help prevent and detect fraud.  Over 20 internal audit professionals attended a Learn At Lunch talk on 14 June 2018 to learn about internal audit’s role in digital forensics investigations.

The evolution of fraud introduces the need for trained Digital Forensics Investigators who possess the necessary skills, such as data mining techniques and interviewing skills, to secure, preserve, analyse and build timelines of a perpetrator’s wrong doing. Once electronic evidence is extracted, it will be handed over to a Fraud Investigator to perform investigative work. Similarly, Fraud Investigators are trained to analyse and build the case using data mining techniques, interviewing skills, and more.

“Internal audits can become investigations. Internal auditors must be trained to identify the red flags or suspicious fraudulent activity They also need to have access to experts who can guide them through the appropriate next steps. Internal audit leaders must develop the relevant investigative skills of their staff or bring in external experts when needed. Fraud is a business risk and organisations must be able to leverage the right resources to combat fraud effectively and efficiently,” said Mr Anthony Lee, Director, Digital Forensics & Investigation, RSM, who gave the presentation.

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