Fraud Audit

DETECTION RESPONSES TEMPLATE

Agency name: HOUSING DEVELOPMENT AUTHORITY

Performed By: Date: WP ref:
Reviewed By: Date:

POSSIBLE WP
RESULT OF PRIOR Fraud Symptoms
KEY FRAUD RISK ROOT Procedures performed Ref
ASSESSMENT Identified
CAUSE
Accredited 1. Examine the  Increasing WP1
developers may fail The terms and Previous audit borrower ledgers past due
to timely remit to conditions of finding that functions for selected accounts for
HDA their collections the delegated to developers. sales
of monthly loan Memorandum accredited contracts
amortizations after Agreement developers such as 2. Send confirmation receivables
the two years delegating to processing, to selected account
seasoning period accredited evaluation and borrowers to  Discrepancies
developer the approval of housing confirm between the
responsibility loan application. outstanding General
to collect the balances Ledger
borrower’s appearing in the balances and
monthly loan Borrowers the Total of
amortizations Ledgers. the balances
during the two of Subsidiary
year Ledgers of
seasoning the sales
period contracts
receivable
accounts.

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Fraud Audit
DETECTION RESPONSES TEMPLATE

POSSIBLE WP
RESULT OF PRIOR Fraud Symptoms
KEY FRAUD RISK ROOT Procedures performed Ref
ASSESSMENT Identified
CAUSE
 Several
complaints
received by
HDA from
individuals
stating that
they received
billing
statements
although they
had not filed
any housing
loan
application

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