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Fraud Prevention and Detection

This section focuses on fraud prevention and detection using audit technology.

 

 

Case Studies / Articles

  Using Software To Sniff Out Fraud (Business Week) - Article focuses on the trends in business and audit firms to use more data analysis (be they expensive or free) to combat fraud.  And as best stated by Toby Bishop in the article: "Eventually, basic accounting software will incorporate many of the tools that now come in anti-fraud programs. Even as that happens, companies that specialize in accounting technology will develop many more ways to either prevent fraud or find and close loopholes before they can be exploited".

   

Proactive Deterrence: Analyzing Internal Control Data To Minimize Fraud and Abuse - Explains how employee survey tools can be turned into a data analysis goldmine for fighting fraud.  Also see associated article on establishing effective whistleblowing functions.

  

 

Tools / Links

Proactively Detecting Occupational Fraud Using Computer Audit Reports (IIA) - Provides a comprehensive list of computer reports for each type of occupational fraud.  Also lists the full suite of audit software tools to combat fraud.  Also see the related article posted on ITAudit or the French version or another version in AccountantsWorld.

  

Use Test Sets To Maximize Your Audit Software - See how pre-coded reports can maximize your data analysis software....with minimal time invested on your part.  Over 30 reports in the Accounts Payable and Revenue audit areas are available for your use.  Just watch the seven-minute Macromedia Flash video to learn more. 

     

  The Whole Truth and Nothing But (Intelligent Enterprise) - Software vendors are making it easier than ever to gain access to financial information for improved transparency and measurement as explained in this article.

Anti-Fraud Programs and Controls (AICPA) - Provides a framework of controls to reduce organizational fraud.  Such controls have been reviewed by various other associations (IIA, ISACA, NACD, etc.) and provide a framework for associated computer audit tests.

   
  Data Mining into the Next Century (ITAudit) - Provides a framework for establishing an automated fraud detection system of dynamic and static reports. 

    

 

 

Fraud Prevention Checkup (ACFE) - The Fraud Prevention Check-Up is a simple but powerful test of your company's fraud health. How vulnerable are you to fraud? Do you have adequate controls in place to prevent it in your organization? To find out, simply click on the link below and download the Association of Certified Fraud Examiners' Fraud Prevention Check-Up.

   

The new era of professional judgment....and realizing that fraud is a five (not four) letter word (BI3.Net) - Explains how audit standards are moving more towards the use of auditor judgment versus a checklist driven approach, while also providing solftware tools to assist in this transition.

   

Anti-Fraud and Corporate Responsibility Resource Center (AICPA) - This web resource provides many free tools and articles to assist auditors, business professionals, and educators in the application of proactive fraud detection and prevention.

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