CFO –

Most mid-size to large organizations rely on internal and external audits as a key preventative measure against fraud. The problem is, many CFOs assume that a routine financial audit will reveal financial anomalies that could be fraud. Unfortunately, quite the opposite is true.

Audits almost never find fraud: external audits find it 4% of the time, and internal 15%, according to the Association of Certified Fraud Examiners’ Report to the Nations.

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