The internal audit function’s responsibilities with respect to fraud are limited to:
a. The organization’s operational and compliance activities only because financial reporting matters are the responsibility of the independent outside auditor.
b. Monitoring any calls received through the organization’s whistleblower hotline but not necessarily conducting a follow-up investigation.
c. Being aware of fraud indicators, including those relating to financial reporting fraud, but not necessarily possessing the expertise of a fraud investigation specialist.
d. Ensuring that all employees have received adequate fraud awareness training.