Tips are the most common method of detecting fraud, accounting for over 40% of detected cases.
Whistleblower hotlines and other reporting mechanisms are vital for obtaining tips.
Analysis of Other Options:
A. Internal audit:While effective, it is less common than tips.
B. Confession:Rarely the initial method of detection.
D. External audit:Detects fraud in a smaller percentage of cases.
Conclusion:Tips are the most common method of fraud detection according to the 2020 Report to the Nations.
[References:2020 ACFE Report to the Nations on Occupational Fraud and Abuse., , , ]
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