Course Information
Detecting Fraud Using Data Analysis (OFFERED VIRTUALLY)
Course Description
THIS COURSE WILL BE HELD VIRTUALLY.
Massive data sets within the organization’s systems can hide symptoms of fraud and waste from auditors and control personnel. This tactical session delves into specific methods for auditors, investigators, and finance professionals to highlight symptoms of problems across all organization processes. Learn how to apply data analysis skills to effectively test one hundred percent of a transaction population and achieve a positive return-on-investment for your organization.
This workshop is not about what buttons to click; it is about strategies employed through the use of data analysis. The workshop is software-neutral, meaning participants will benefit whether they use IDEA, ACL, SQL queries, or simply Excel and Access. The instructor will demonstrate techniques that can be handled by all of the programs.
Course Objectives
Upon completion of this course, participants will be able to:
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Overcome mindsets that prevent us from properly addressing fraud.
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Apply a consistent methodology for fraud detection.
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Employ data analysis techniques used to successfully detect fraud.
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Blend traditional methods of auditing with data analysis techniques.
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Incorporate data analysis techniques into routine daily activities to improve detective controls.
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Avoid common pitfalls related to data analysis.
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Apply data analysis to audits of process areas common to all organizations.
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Use data analysis to test 100% of a population instead of a sample.
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Apply lessons from case studies to your own unique environment.
Preparing to Detect Fraud
Overcoming beliefs that hinder our ability to achieve results
How much fraud is out there?
Our role in fraud detection
Evaluating your environment
Assessing Fraud Policy
Importance of early detection
A method for fraud detection
Data analysis in perspective
Fundamental Data Analysis Techniques
Importing preferences
Using control totals to detect manipulation of reconciliations and spreadsheets
Sorting data to highlight key missing fields, stale transactions, odd dates, and unusually large/small items
Detecting anomalies through statistical analysis
Effective use of extractions, using logic operators to highlight odd transactions
How to spot patterns with summarizations and pivot tables
Application of fundamental techniques to case studies
Beyond Fundamentals
Traps to avoid
Searching for descriptors symptomatic of earnings management, fictitious payments, and corruption
Effective uses of field manipulation
Duplicate key detection & exclusion
Date stratification to detect spikes in activity around a period end, symptomatic of earnings management
Numeric stratification and the circumvention of approval authority
Joining databases to detect false vendors, ghosts on the payroll, and revenue loss
Time block comparisons to detect escalating activity symptomatic of false vendors, cash misappropriation, and ‘black hole’ accounts
Benford's Law and its application
Where to look for problems in your environment
What can go wrong and common symptoms of fraud
Putting it all together into a plan
Instructors
Scott Langlinais delivers training seminars worldwide on properly addressing fraud, waste and abuse. He has worked with leaders of Fortune 500 companies, top public accounting firms, and government entities to design and implement strategies for establishing an environment hostile to fraud. On a tactical level he teaches concepts such as data analysis techniques and a five-step approach to fraud detection that finance professionals, auditors, and investigators have used to successfully prevent, detect and respond to wrongdoing.
Scott is affiliated with Courtenay Thompson & Associates for the purpose of developing and providing training on fraud-related topics. He is the developer and instructor of Using Data Analysis to Detect Fraud & Error, Detecting Fraud Using IDEA, and Fraud Risk Workshop. He speaks at conferences hosted by the Institute of Internal Auditors, the American Institute of Certified Public Accountants and the Association of Certified Fraud Examiners. The International Risk Management Institute has published several of his articles in relation to fraud prevention and response.
Prior to starting his own practice in 2003, Mr. Langlinais held public accounting and internal audit leadership positions, most recently serving as Director of Internal Audit and Security for a NASDAQ 100 software company. His investigations of fraud and gross negligence have resulted in removal of perpetrators, successful litigation, and recovery of millions of dollars.
Mr. Langlinais has served as the Founder and Director of the Dallas Tax Assistance Program, a not-for-profit organization that assists low-income families with federal tax return preparation. He received a BBA degree from the University of Notre Dame and is a Certified Public Accountant.
Additional Information
TAC Rule 523.142(g) requires the CPE Sponsor to monitor individual attendance and assign the correct number of CPE credits. Participants will be asked to document their time of arrival and departure in compliance with this Rule. Additionally, attendance will be monitored throughout the day and CPE certificates will reflect actual attendance of each participant.