Forensic audit as a preventive tool for asset misappropriation in microenterprises in Lima, Perú

Abstract

The objective of this research was to establish a forensic audit procedure as a preventive tool for the misappropriation of assets in microenterprises in Lima, Peru. The methodological approach was covered under a qualitative approach, descriptive in nature where observation was used as the main source of information collection, coupled with an unstructured interview was used for more accurate acquisition of information, the population consisted of 324 microenterprises circumscribed in the folio of business structure of Peru to 2019; the sample consisted of 49 microenterprises belonging to the same folio. the basis on which research tools have been built to measure compliance with the procedure manuals and internal control. The results revealed inconsistencies in the execution of certain activities not foreseen in the procedure manuals, as well as inadequate employee behavior in the handling of cash, which pointed to deficiencies in internal control and indications of fraud in the company. Based on the findings, preventive forensic auditing methods were developed to reduce the potential for fraud and provide managers with more power over day-to-day operations. Methods such as fingerprinting, graphology, eye checks including viewing and reviewing supporting documentation as part of shift settlement, documentary and written verification, and physical examination of goods and lubricants handled by the company were proposed.