USAID Government Accountability Initiative Supports State Audit Institution in Strengthening Auditors’ Fraud Risk Assessment capacities

USAID Government Accountability Initiative Supports State Audit Institution in Strengthening Auditors’ Fraud Risk Assessment capacities

November 23, 2020

In the course of the support to further develop capacities for Fraud Risk Assessment for auditing, USAID Government Accountability Initiative (GAI) delivered two trainings to Sate Audit Institution (SAI) leadership including the Auditor General, SAI Council and Sector Heads, performance audit teams, compliance and financial audit team leaders and Sector for Audit Methodology and Development. Mr. Stephen Lord, GAI subcontractor and former GAO senior executive, delivered trainings online, through Zoom platform, from November 10-13 and 17-19.

Fraud Risk Assessment trainings have been designed to improve SAI auditors’ understanding and utilization of the fraud risk framework to assess, mitigate, and implement structures to combat risk of fraud in auditee operations and government spending. Enhancing auditor’s understanding of fraud risk management principles will help them develop more useful and targeted report findings and recommendations and will help strengthen internal controls in government-funded programs.

Through individual exercises, scenario-based learning and discussion groups, SAI auditors were introduced to fraud terminology and concepts, as well as the three major categories of fraud risk management activities: prevention, detection, and response. Focus was given to prevention activities since leading practices for strategically managing fraud risk emphasize risk-based prevention. Training provided an internal controls refresher, INTOSAI standards and GAO Fraud Risk Assessment Framework. Fraud prevention activities were underlined to be most cost-effective use of resources since they enable Government managers to avoid a costly and inefficient “pay and chase” model.

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