Remote audit procedures can help streamline the audit process and protect the parties from health risks during the COVID-19 crisis. However, seeing people can be essential when it comes to identifying and assessing fraud risks during a financial statement audit.
Most research has found that nonprofit organizations are no more likely to fall victim to occupational fraud than their for-profit peers. On the other hand, there’s reason to believe that nonprofits underreport fraud incidents and are reluctant to prosecute thieving
A nonprofit staffer charged legitimate travel-related expenses to her employer’s credit card. Although she intended to file an expense report, her employer never asked for it — nor did the employer question her when it received the card statement. The