A leading global fraud study from the Association of Certified Fraud Examiners (ACFE) reveals that as a means of detecting fraud, external audit only features in 3 per cent of detected fraud cases. AIPI member: Roger Darvall-Stevens explains that the top three methods by which fraud is detected are tip-off, internal audit, and management review.
https://www.intheblack.com/articles/2018/06/01/auditors-liable-failure-detecting-fraud
