Despite the wealth of analytical technologies available today, 65% of fraud at public companies is detected through tips, management review, or simple accidents. Forensic Analytics combine human intuition and leading-edge technologies, and can provide superior detection methods to significantly improve the detection and investigation of illegal or unethical activities.
In this session, we explore Forensic Analytics: a set of techniques we can use to uncover irregularities in financial data. We also gain an understanding of goals of Forensic Analytics: to enable us to find out how — and why — these irregularities exist, and to find out their source(s) — especially when fraudulent activity is suspected. We discuss guiding principles that are key to isolating data anomalies, and outline a standard, repeatable process to Forensic Analytics. Throughout the session, we view examples of how we can employ PowerPivot for Excel to drive Forensic Analytics via various tests and reviews.
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