FOR2601 Assignment 1
Semester 2 2024
(234942) - DUE 10 August
2024
[Company address]
, FOR2601 Assignment 1 Semester 2 2024 (234942) - DUE 10 August 2024
QUESTION 1
1.1 Discuss in your own words the detection techniques that can be used by auditors to
detect fraud in an organisation. (10)
1.2 Discuss the basic considerations or tactical steps you have to consider when
starting a new investigation. (10) [20]
Question 1.1: Detection Techniques Used by Auditors to Detect Fraud in an
Organisation
Detecting fraud in an organization is a critical task for auditors, requiring a combination
of analytical skills, experience, and specialized techniques. Here are some of the
detection techniques commonly used by auditors:
1. Data Analytics and Continuous Monitoring:
o Description: Utilizes software to analyze large datasets to identify
anomalies, trends, and patterns that might indicate fraudulent activity.
o Application: Continuous monitoring systems can flag irregular
transactions, unusual account activity, or deviations from standard
processes.
2. Risk Assessment:
o Description: Involves identifying and assessing the areas within an
organization that are most susceptible to fraud.
Semester 2 2024
(234942) - DUE 10 August
2024
[Company address]
, FOR2601 Assignment 1 Semester 2 2024 (234942) - DUE 10 August 2024
QUESTION 1
1.1 Discuss in your own words the detection techniques that can be used by auditors to
detect fraud in an organisation. (10)
1.2 Discuss the basic considerations or tactical steps you have to consider when
starting a new investigation. (10) [20]
Question 1.1: Detection Techniques Used by Auditors to Detect Fraud in an
Organisation
Detecting fraud in an organization is a critical task for auditors, requiring a combination
of analytical skills, experience, and specialized techniques. Here are some of the
detection techniques commonly used by auditors:
1. Data Analytics and Continuous Monitoring:
o Description: Utilizes software to analyze large datasets to identify
anomalies, trends, and patterns that might indicate fraudulent activity.
o Application: Continuous monitoring systems can flag irregular
transactions, unusual account activity, or deviations from standard
processes.
2. Risk Assessment:
o Description: Involves identifying and assessing the areas within an
organization that are most susceptible to fraud.
