Page 249 - AAA Integrated Workbook STUDENT S18-J19

Forensic audits

4.3 Additional procedures

 Inspect payments for evidence of authorisation.

 Using CAATs, trace all payments made to a particular bank account number.

 Using CAATs, identify employees who have not taken any annual leave
entitlement or sick leave.

 Inspect reports detailing changes of standing data to identify whether these
changes were authorised.

 Use analytical procedures to identify any trends that may indicate when the
fraud commenced and the extent of the fraud.

 Interview the suspect to obtain an explanation of what has happened or to
obtain a confession.

 Inspect supporting documentation (e.g. contracts of employment, GRNs,
invoices) for expenditure to identify whether the expenditure is legitimate or
fraudulent.

 Inspect the company's insurance policy to identify whether fraud is covered. If
so, the loss to the company will be limited to the extent of any excess on the
insurance policy or any limit imposed by the insurance company.

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