Knowledge Centre

This report is based on Grace Yanchi Mui’s thesis (at The University of Queensland) titled Auditor Expert Performance in Fraud Detection: The Case of Internal Auditors. The prominent factor that impacted on the survey findings is that the fraud detection task is unique and hence, differs from other audit tasks. The uniqueness of the fraud detection task impacted on the composition of factors that impact on auditors’ fraud detection capabilities, i.e. the determinants of auditor expert performance in fraud detection. The overall finding of this report is that the audit profession should consider revising existing certification and continuous learning programs to emphasise the development of auditors’ knowledge of fraud and fraud detection.

• Direction on how to scope an internal audit of UDAs
• Guidance for how the internal auditor’s role as a consultant can be leveraged to assist management with developing an effective UDA control framework
• Considerations that internal auditors should address when performing UDA audits
• A sample UDA process flow as well as a UDA internal audit program and supporting worksheets to help internal auditors organize and execute an audit.

• Define ISG.
• Help internal auditors understand the right questions to ask and know what documentation is required.
• Describe the internal audit activity’s (IAA) role in ISG.