My marketing team has encouraged me to write about the impact of Covid-19. To an extent, writing about the benefits of fraud auditing in the middle of a world crisis does not seem like the right time or place, but there is a greater potential for fraud during times of upheaval. And, we all have bosses, so here I go." FYI, my May blog will be USA centric, I apologize to my world readers.
In my December 2019 blog I stated “I will provide eleven statements in the spirit of causing you to think about your audit plan and help you create a dialog in your company about improving your ability to find fraud risk statements within your audit.”
The remaining three observations are what I have referred to as the “my statement”. These are my predictions, hopes or my aspirations.
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:
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.
This is part two of a blog post series examining a worked exampled using fraud data analytics on a complex fraud scheme.
In this post we will look at how to use fraud data analytics designed to uncover the complex fraud scheme and the fraud audit procedures designed to provide creditable evidence that the scheme is being perpetrated by the budget owner.
Ghost employee schemes are a common fraud scheme during which there are people on the payroll who don’t work for the company in question but do collect a salary or remuneration.
Let’s take a closer look at how you can use fraud data analytics when creating an executing an audit program for ghost employees:
