This is the second of three blogs looking at the state of the auditing profession. In the first blog, we looked at what has changed as companies have grown and gone global. In this article, we’re considering the use of words and the significance of precision.
As business systems have grown more complex and moved into a digital world, they’ve created more opportunities not only for fraud but also for uncovering fraud. It is my contention that auditing should be the number one reason for exposing fraud. And that requires a shift in mindset as well as the right techniques.
There is an urgent question that I don’t think has been asked often enough: Is the conventional professional view of fraud risk broad enough to protect companies from both monetary and non-monetary impact associated with internal fraud?
In our first blog in a series on fraud data analytics, we identified a ten-step methodology for conducting a fraud data analytics project. In this blog, we will discuss steps nine and ten:
In our first blog in a series on fraud data analytics, we identified a ten-step methodology for conducting a fraud data analytics project. In this blog, we will discuss steps seven and eight:
Fraud Data Analytics: Selecting the Strategy
In our first blog in a series on fraud data analytics, we identified a ten-step methodology for conducting a fraud data analytics project. In this blog, we will discuss step three:
In our first blog in a series on fraud data analytics, we identified a ten-step methodology for conducting a fraud data analytics project. In this blog, we will discuss steps one and two.
This blog is the first in a series of seven to explain how to perform fraud data analytics. It introduces a ten-step approach along with explaining the concept of fraud auditing.
For years, auditors, myself included, would launch a fraud detection project by getting the data and playing with the data. At least that was the expression. We hoped to trip across a fraud scheme. We had no specific plan, just a simple goal: Find fraud. We did not know what we were looking for, but we were looking. Eventually, we hoped to find something. But, those days are over.
