This research proposal examines asset misappropriation, focusing on fraud detection and prevention within the Herniman Group. It investigates the role of external auditors in identifying red flags and implementing effective audit procedures to mitigate risks. The study addresses data security concerns, employee fraud, and the misappropriation of assets, aiming to contribute to a better understanding of the factors that contribute to asset misappropriation and how organizations can strengthen their internal controls. The methodology includes both quantitative and qualitative approaches, employing questionnaires and data analysis to assess the prevalence and impact of asset misappropriation. The proposal outlines the research questions, objectives, justification, and potential outputs, as well as a conceptual framework, methodology, and project budget. The study seeks to identify vulnerable areas and develop strategies to protect sensitive data and organizational assets.