By David Coderre
Compliment for Computer-Aided Fraud Prevention and Detection: A step by step advisor "A awesome computing device reference for a person attempting to movement from conventional auditing to built-in auditing. the various case stories make it effortless to appreciate and supply a how-to for those?seeking to enforce computerized instruments together with non-stop insurance. no matter if you're simply beginning down the trail or good in your approach, it's a precious resource." -Kate M. Head, CPA, CFE, CISA affiliate Director, Audit and Compliance college of South Florida "I were lucky adequate to profit from Dave's paintings over the past fifteen years, and this book isn't any exception. utilizing his twenty-plus years of expertise, Dave walks via each point of detecting fraud with a working laptop or computer from the genesis of the act to the mining of information for its strains and its final detection. a whole textual content that first explains how one prevents and detects fraud despite know-how after which exhibits how by means of automating such techniques, the examiners' powers develop into superhuman." -Richard B. Lanza, President, money restoration companions, LLC "Computer-Aided Fraud Prevention and Detection: A step by step consultant is helping administration and auditors solution T. S. Eliot's undying query, 'Where is the data misplaced in information?' info research presents a method to mine the data hidden in our info. Dave Coderre has lengthy been a pacesetter in instructing auditors and others approximately computing device Assisted Audit recommendations. The ebook combines functional techniques with distinct info research case examples that compel the readers to aim the strategies themselves." -Courtenay Thompson Jr. advisor, Courtenay Thompson & affiliates
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Extra info for Computer Aided Fraud Prevention and Detection: A Step by Step Guide
However, the processes of arriving at the risk factors and fraud risks are dynamic and fluid. These two processes are not dependent on each other. 2 Inherent Fraud Risk Assessment. Risk Categories Likelihood Impact Inherent Fraud Risk Attractive assets Theft New computer Improper system in A/P invoicing Lack of separation of duties High High Medium High Medium High High High High Governance Compensation Contracting is bonus based irregularities High High High Technology Rapidly changing technology Over valuation of inventory High Medium Medium External Environment Competitive business environment Theft of intellectual property Low Medium Low Financial Risk Factor Fraud Risk and has no risk factor.
4. Thoroughly understand the symptoms of fraud and data sources that may contain those symptoms. 5. Be alert to the occurrence of symptoms and know how to look for those symptoms in the data. Fraud Prevention and Detection 19 Once these conditions are met, it becomes easier to deter, investigate, and report detected fraud and create new controls to detect any reoccurrence. Determining the Exposure to Fraud Auditors must be aware of the areas where their organization could be at risk and the possible impacts.
A sudden unexplained increase in cost of goods sold, delinquent accounts, increases in unit prices, and other patterns or anomalies can be assessed to look for early symptoms of fraud. While auditors and fraud investigators are not expected to have the same level of knowledge as the person with primary responsibility for the area under review, SAS 53, The Auditor’s Responsibility to Detect and Report Errors and Irregularities, clearly states that auditors must understand the characteristics of fraud.