Training Course
Syllabus:
How to Use Excel to Detect Fraud
Objectives of the Presentation Understand the scope and size of fraud
Review proper internal control
Review SAS No. 56 Analytics and related dashboard KPIs
Understand Benford´s law and limitations
Set up a worksheet to help automate Benford´s law analysis
Using Excel´s special tools and functions to spot fraud red flags
Why Should you Attend Properly informed, financial professionals can serve as fraud auditors and add huge value to their department. Using Excel´s fraud related applications lets you data mine huge volumes of accounting transactions in an organized manner and recover substantial amounts of money for your firm.Excel 2013/16 provides several easy-to-use tools that can greatly enhance and expedite the fraud audit process. This course will demonstrate how to use a variety of Excel tools along with step-by-step instructions that you can put to immediate use to help your firm spot fraud red flags. This informative, practical, on-the-job training program will combine the best aspects of two different but related topics: fraud auditing and Excel tools for data mining, statistics, analytics and more useful Excel tools. Areas Covered Overview of fraud
Scope and size of fraud annually
Internal control and segregated functions
Troubleshooting potential fraud red flags with Excel designed analytics
Horizontal and vertical analysis
Metrics: ratio analysis and disaggregated information
Trend analysis - charting linear regression analysis for speed
Sample dashboard analytics and fraud red flags
Understanding and using Benford´s law with Excel to spot potential fraud
Establishing a template for expectations vs. actual results
First and second digit test and needed Excel functions
Limitations of Benford´s law
Using gaps in numbers to spot fraud red flags with Excel
Using Excel´s special tools and functions to spot fraud red flags
Excel tools for spotting duplicate payments: payroll, vendor invoices, and more
Stratifications, frequencies and maximum analysis
Receivables and inventory
Payables, payroll and disbursements
Finding fictitious vendors, payroll comparisons, duplicate payments, and more
Fictitious sales - bonuses to salesmen - using pivot tables to age receivables
Fraudulent travel and expense account items
Auto fleet: fraudulent gas purchases
Who will Benefit CPAs, CFOs, Financial Controllers, Staff Accountants, Finance and Accounting Department Personnel, Independent Auditors, Internal Auditors, Financial Analysts, Budget Directors, Government and Private Industry Financial Professionals |
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