How Can Internal Control System Be Used To Detect Errors And Fraud In A Banking Industry?
Am writing a project on internal control system.And I'll like to know how to detect errors and fraud in a banking industry and possibly its preventions.
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It can be easily detected in the banking industry through the internal controls. For instance, if you carry out an internal audit it will give you a lot of weaknesses in the system. Then the daily reports are used to mitigate the fraud. The data entry mistakes and the credit loans can be figured out through risk preventive audits.
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I understand that cerrying out internal audits can help but i'ld like more details about this. Thank you.
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