The article explores, through a descriptive analysis of data collected during a debate panel held at a conference specialized in the field of Internal Auditing, the relevance of integrating the functions of Risk Management, Internal Controls, Compliance, and Internal Audit in the prevention of corporate fraud. Most of survey respondents (63.64%) were from regulated organizations; however, 64.73% expressed disagreement with the notion that such entities are inherently capable of preventing fraud. Furthermore, 56.76% reported the absence of functional integration among these areas within their organizations, despite 64.02% having been requested to operate in an integrated manner. The most frequently cited factors contributing to failures in fraud detection or prevention in highly regulated environments include senior management’s lack of awareness regarding the responsibilities of the Three Lines (78%), organizational misunderstanding of these roles (73%), lack of integration (59%), insufficient “Tone at the Top” (58%), and a lack of clarity within the Three Lines themselves (55%). The findings suggest that, in the view of the respondents, the successful prevention and detection of fraud requires the implementation of an integrated assurance approach and the cultivation of a strong ethical culture to ensure the integrity and reliability of financial information across organizations. These findings also represent the main contribution of the study, as they highlight the essential role of these elements in building safer and more transparent organizational environments.