Data Analysis Techniques for Fraud Examiners (Online Self-Study)

 

Data Analysis Techniques for Fraud Examiners

CPE Credit: 4
Course Level: Overview
Prerequisite: None

Description:

Data analysis is a powerful tool for fraud examiners. By searching for patterns, anomalies, trends and outliers, you might discover a cleverly hidden scheme. A skillful fraudster is adept at covering his tracks. However, data analytics empowers you to uncover even the most thoroughly hidden fraud. Furthermore, data analytics can be used to continuously monitor an organization so that red flags of fraud are discovered and investigated as soon as they occur.

This course explores the basics of using data analysis to uncover fraud. You will work through several interactive examples to illustrate simple analysis techniques. With these examples, you will learn how to perform a variety of tests and interpret the results to identify common red flags of fraud.

Key Takeaways:

Advantages and challenges of using data analytics to detect fraud

Phases of the data analysis process

Data analysis techniques for specific fraud schemes

Red flags for suspicious or fraudulent data

Basic analytical procedures


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Table of Contents:

Part I: Data Analytics

Lesson 1: What is Data Analysis?

Lesson 2: Why Do We Use Data Analytics to Detect Fraud?

Lesson 3: Advantages of Using Data Analytics to Detect Fraud

Lesson 4: Challenges of Using Data Analytics to Detect Fraud

Part II: The Data Analysis Process

Lesson 5: The Planning Phase

Lesson 6: The Preparation Phase

Lesson 7: The Testing and Interpretation Phase

Lesson 8: The Post-Analysis Phase

Part III: Data Analysis Techniques

Lesson 9: Basic Analytical Procedures

Lesson 10: Data Analytics and Scheme-Specific Frauds

Lesson 11: Billing Schemes

Lesson 12: Check Tampering Schemes

Lesson 13: Payroll Schemes

Lesson 14: Expense Reimbursement Schemes

Lesson 15: Theft of Cash Receipts Schemes

Lesson 16: Noncash Asset Schemes

Lesson 17: Corruption Schemes

Lesson 18: Financial Statement Fraud Schemes

Lesson 19: Financial Statement Analysis

Lesson 20: Benford's Law

Lesson 21: Textual Analytics

Lesson 22: Conclusion

CPE Information:

You Will Learn How To:

Identify the benefits and challenges of using data analytics

Identify the four phases of the data analysis process

Recognize common red flags for data that appears to be suspicious or fraudulent

Recognize various data analysis techniques that can be applied based on the type of fraud scheme(s) under investigation


Field of Study: Auditing

Last updated: May 2017

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System requirements:

Internet access: High-speed connection recommended

Free Adobe Flash Player

Speakers required for video sound

Online Self-Study Troubleshooting Guide:

Problem: When I attempt to access my courses from “My Online Learning,” the course never launches, or I receive an error message saying my pop-up blocker needs to be turned off.

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Always close the current lesson before going to another one. Always click the Close Window button (usually the red “X” in the upper right corner) of the current lesson before clicking on another lesson.


Use a different browser. This error seems to only occur in Internet Explorer, so using Mozilla Firefox or Google Chrome should resolve the issue (see below for links to download either of these browsers).


Other Troubleshooting Tips: If you encounter other errors, such as courses freezing or crashing, we recommend taking the following action:

Try a different browser. ACFE online self-study courses are designed to run on all modern web browsers, but if you encounter a problem that is not solved using one of the suggestions above, you can try using a different web browser to see if it eliminates the problem. We have most frequently seen where using Mozilla Firefox or Google Chrome has resolved an issue that was seen in Internet Explorer.


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Google Chrome can be downloaded here

Make sure you are running the latest version of Flash. Go to Adobe.com to see what version of Flash you are running, and then compare that to the table on that page to see what the latest version is for your operating system/browser combination. If you are not running the newest version, you should upgrade and see if that resolves the problem.