Uganda is losing Shs.500 billion annually due to fraud caused by internal auditors.
According to the president of the institute of internal auditors Uganda Timothy Etoori, fraud among internal auditors is also costing companies 5 percent of income monthly.
Addressing a press conference ahead of the auditor’s conference next week, Etoori said fraud among internal auditors is reported in both public and private sectors.
The forthcoming conference is intended to share experienced among internal auditors on how to mitigate corruption and fraud risks among themselves.
