The video touches on what motivates the average person to commit fraud; Pressure, Opportunity, and Rationalization. It also explains how accountability begins at the top level with the actions and attitude of the CEO, Board of Directors, and Audit Committee. Next it moves into suggestions for helping to prevent fraud, such as professional skepticism and training all employees to detect red flags. Last but not least, the video explains the importance of the Internal Auditor, who helps assess fraud risk and test the efficiency of internal controls.
Tags: Internal Controls, Vibato, fraud, center for audit quality, internal auditor