Fraud Audit
Various levels of fraudulent activities can be carried out within a business, negatively impacting its performance and causing financial losses. Although these losses cannot be precisely measured in Turkey, they are estimated to reach up to 10%. Developments in globalization and technology provide an increasingly suitable environment for fraudulent activities every day.
A fraud audit is conducted to identify potential fraudulent activities that businesses may encounter, prevent such actions from occurring, and uncover existing fraudulent activities. Businesses can face reputation damage, financial losses, and legal issues due to fraudulent activities. Therefore, a fraud audit is crucial for the sustainability and reliability of the business.
Fraudulent activities can be committed by employees, as well as by mid-level and senior managers, or even by partners. Accordingly, the demand for a fraud audit can come from different levels. Depending on where the request comes from, a fraud audit is a specialized examination that must be carried out with particular sensitivity.
According to fraud theory, sufficient opportunity is required for fraud to occur. Therefore, identifying fraud opportunities within businesses before they materialize is a more prudent measure.