Internal auditing in corporate fraud cases: Insights from case study analysis in Vietnam

This study employs qualitative research methods to examine the characteristics of typical corporate fraud cases in Vietnam. The analysis identifies major risk factors, including excessive concentration of power, cross-ownership structures, related-party transactions, and the abuse of market dominance. Although the three lines of defense model is widely applied in practice, significant ambiguity remains between the second and third lines of defense, particularly with respect to the organizational role and independence of the internal audit function. The findings highlight notable gaps in current professional capacity, indicating that advanced internal audit education in Vietnam should place greater emphasis on process modeling, control matrix design, risk indicator quantification, and the development of critical thinking skills, thereby enabling internal audit to function more effectively as a strategic safeguard against corporate fraud.