Data Analysis Techniques for Fraud Examiners

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Course Level
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4 Credits


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



You Will Learn How To:

Identify the benefits and challenges of using data analytics

Categorize the four phases of the data analysis process

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

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

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

CPE Credit: 4
NASBA Information: Auditing
Advanced Preparation: None
Last Updated: March 2023
Delivery Method: QAS Self-Study


CPE Credit

Please note: To be eligible for CPE credit, you must complete the final exam within one year of purchase date. You may only claim CPE credit for a course once.

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System Requirements:

  • Internet access: High-speed connection recommended
  • Speakers required for video sound

The Association of Certified Fraud Examiners, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:


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