Keywords
Fraud
Internal Auditor
Credit Unions.
How to Cite
Abstract
Purpose – Red flags are mechanisms that can be used by internal
auditors for early detection of possible fraud. In this context, the aim of
this study was to identify the relevance credit unions’ internal auditors
attribute to red flags in assessing fraud risk.
Design/methodology/approach – This article is characterized as
descriptive concerning its goals, as a survey as to is procedures, and as
quantitative in reference to its approach to the problem. The sample
consists of 51 internal auditors working in Credit Union Centers in
southern Brazil.
Findings – Results indicate that, in the assessment of fraud risk, internal
auditors attribute greater importance to red flags referring to operational
activities and internal control procedures. In addition, it is suggested
that internal auditors are not impartial concerning their perception
of relevance of most of the warning signs of the possibility of fraud.
Originality/value – The findings contribute by demonstrating to
internal auditors the need for greater attention to the use of red flags
as auditing tools.
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