Wednesday, June 20 | 8:30-9:45 AM
Level: Intermediate
Recommended Prerequisite: Familiarity with data analytics concepts
Field of Study: Auditing
For the last decade, data analytics has been a ubiquitous topic in fraud conferences and industry conversations worldwide. However, as much as we tout the benefits of analytics in detecting fraud, our discussions and demonstrations often lack detail or address only a finite number of generic fraud schemes, specifically those found in payroll, purchasing and expense reporting. This session will discuss how to build in-house data-mining routines to discover threats that are industry-specific and detectable through the examination of nonfinancial data sources. It will stress the importance of scouting your organizational data landscape, the advantages of learning basic SQL and database skills, and the pitfalls of under-engineered algorithms and over-engineered visualizations.
You Will Learn How To:
- Examine the advantage of developing fraud detection analytics in-house
- Assess the importance of leveraging nonfinancial data in detective analytics
- Recognize basic database and SQL skills