Fraud's hidden cost:
From compliance to fraud prevention with Internal Audit
as a strategic partner
Fraud remains one of the most pervasive and value-destroying
risks facing South African organisations. Economic pressure,
sophisticated fraud schemes, digital transformation and persistent
governance failures continue to expose organisations across both
the public and private sectors. While most organisations
acknowledge fraud as a critical risk, many still rely on fragmented
controls, reactive investigations and compliance-driven audit
approaches that fail to prevent or detect fraud early.
In this environment, Internal Audit is uniquely positioned to
move beyond traditional compliance assurance and play a pivotal
advisory role in fraud risk governance, aligned to the Global
Internal Audit Standards and leading practice benchmarks.
