The area of fraud detection is particularly important from the investor’s perspective.
Generally, all investors want to protect their investments and want to be reassured that the assets of the
company are correctly stated and safeguarded (Alleyne, 2005). It is also important that auditors are even
more vigilant in the execution of their responsibilities by ensuring that due diligence and care is at the
forefront of their agenda so that fraud can be detected and exposed. This is critically important, if auditors
are to protect and preserve their professional reputation and integrity and avoid legal costs (Makkawi and
Schick, 2003).