Are auditors looking for fraud when performing audits?

Unless they are performing an investigative audit, auditors are not specifically searching for the existence of fraud. During a routine audit they are more concerned with ensuring that adequate systems of internal control exist to reduce the risk of fraud. However, procedures are performed that are meant to detect potential fraud and to assess your area’s exposure to fraud related risk.

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1. What is internal auditing?
2. What types of audits are conducted?
3. What are internal controls?
4. Are internal controls foolproof?
5. Who receives the audit reports?
6. What is the difference between internal auditors and external auditors?
7. What is fraud?
8. Are auditors looking for fraud when performing audits?
9. What should I do if I suspect County resources are being wasted or abused?
10. What should I do if I suspect someone is involved in something illegal?