Implementing robotic process automation for auditing and fraud control

Abstract

The cost of fraud continues to be a problem for many organizations in the global economy. This study explores how robotic process automation may offer a way forward for organizations to reduce fraud and advance organizational audit effectiveness for detecting potential fraud areas and cases.

The research was performed by conducting a literature review that considered 22 articles (through a selection process) on the relevant research themes of robotic process automation, fraud and auditing.

The findings suggest that organizations should consider robotic process automation as a means for reducing fraud opportunities in organizations. Robotic process automation may also assist organizations to advance their audit efficiency and effectiveness.

The paper conclude by proposing a theoretical framework for the implementation of robotic process automation in fraud control and auditing. A number of new theoretical questions arose during this analysis. This include, the potential use of robotic process automation by fraudsters in support of organizational fraud and secondly, the new skills required by auditors to be effective in an intelligent workplace.