Become the forensic analytics expert in your organization using
effective and efficient data analysis tests to find anomalies,
biases, and potential fraud--the updated new edition Forensic
Analytics reviews the methods and techniques that forensic
accountants can use to detect intentional and unintentional errors,
fraud, and biases. This updated second edition shows accountants
and auditors how analyzing their corporate or public sector data
can highlight transactions, balances, or subsets of transactions or
balances in need of attention. These tests are made up of a set of
initial high-level overview tests followed by a series of more
focused tests. These focused tests use a variety of quantitative
methods including Benford's Law, outlier detection, the detection
of duplicates, a comparison to benchmarks, time-series methods,
risk-scoring, and sometimes simply statistical logic. The tests in
the new edition include the newly developed vector variation score
that quantifies the change in an array of data from one period to
the next. The goals of the tests are to either produce a small
sample of suspicious transactions, a small set of transaction
groups, or a risk score related to individual transactions or a
group of items. The new edition includes over two hundred figures.
Each chapter, where applicable, includes one or more cases showing
how the tests under discussion could have detected the fraud or
anomalies. The new edition also includes two chapters each
describing multi-million-dollar fraud schemes and the insights that
can be learned from those examples. These interesting real-world
examples help to make the text accessible and understandable for
accounting professionals and accounting students without rigorous
backgrounds in mathematics and statistics. Emphasizing practical
applications, the new edition shows how to use either Excel or
Access to run these analytics tests. The book also has some
coverage on using Minitab, IDEA, R, and Tableau to run
forensic-focused tests. The use of SAS and Power BI rounds out the
software coverage. The software screenshots use the latest versions
of the software available at the time of writing. This
authoritative book: Describes the use of statistically-based
techniques including Benford's Law, descriptive statistics, and the
vector variation score to detect errors and anomalies Shows how to
run most of the tests in Access and Excel, and other data analysis
software packages for a small sample of the tests Applies the tests
under review in each chapter to the same purchasing card data from
a government entity Includes interesting cases studies throughout
that are linked to the tests being reviewed. Includes two
comprehensive case studies where data analytics could have detected
the frauds before they reached multi-million-dollar levels Includes
a continually-updated companion website with the data sets used in
the chapters, the queries used in the chapters, extra coverage of
some topics or cases, end of chapter questions, and end of chapter
cases. Written by a prominent educator and researcher in forensic
accounting and auditing, the new edition of Forensic Analytics:
Methods and Techniques for Forensic Accounting Investigations is an
essential resource for forensic accountants, auditors,
comptrollers, fraud investigators, and graduate students.
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