International Journals

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    PREVENTING AND DETECTING FINANCIAL FRAUD USING AUDIT: A THEORETICAL FRAMEWORK
    (International Journal of Management, Technology and Engineering, 2019-02) G B, Sabari Rajan
    The purpose of this paper is not to emphasize the role of an auditor in the detection and prevention of financial fraud process, but also to highlight its imperative in preventing the commission the frauds in an accounting entity. Besides, the paper plans to transparent the real-time usages of internal/external audit, that can provide to the entity on the leadership of its business and also to the stakeholders for their well beings. Starting from the premise that auditors are not the opponents of any business entity, one should remember that: the internal audit is a function of backing offered to the leadership of that business in order for them to better manage their activities; it expresses judgments on all decisions taken by the leadership that ensure the normal and efficient functioning of its activities, and its objective is to create added value. Finally, this paper made an attempt to understand the real-time implications of an internal audit, how the internal system of auditing will enhance the voice of the business among business leaders and also the existing theoretical framework for the system of audit.