You are a consultant that is asked what should be put into place to detect fraud. Based on historical data, you suggest that:
1. The company should invest in interim period external audits as well as period end audits because auditors typically detect the most frauds
2. The company should invest more resources to their internal audit department because they typically detect the most frauds
3. The company should invest in an anonymous tip-line that people can call to report concerns. The company should have whistle-blower protections built into their ethics policy, and they should consider rewards for those that come forward- because most frauds are detected by tips
4. The company should invest in a more robust IT infrastructure because IT controls typically detect most fraudulent activity in an organization