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 Detecting Fraud, Errors, and Other Cash Leakage with Data Analytics

2/7/2013 8:00 AM
2/7/2013 5:00 PM
Portland Regency Hotel & Spa, 20 Milk Street, Portland, ME 04101 | Maine
IIA Tag 2
You are invited to participate in a full-day, 8 CPE training session: Detecting Fraud, Errors, and Other Cash Leakage with Data Analytics on February 7, 2013 at the Portland Regency Hotel & Spa, 20 Milk Street, Portland, ME 04101.
Breakfast, lunch and valet parking are included. Combine with February 8, 2013 event and save 10%.
Course Outline
This course gives you an understanding of the power of data analysis by providing a holistic approach to using tools like Excel.  Learn about useful analytical tests in the areas of accounts payable, contract auditing, payroll, general ledger, and health benefit reviews.  Also discussed are the different data analysis tools that are available as well as continuous monitoring applications.
Further, given Excel has permeated all of our business processes, Excel can also be an effective data analysis tool for auditing.  However, the mini-systems built in Excel can be rife with errors given the lack of software methodology, poor security, and ease-of-change that comes with the Excel territory. Learn some tricks to properly use Excel in auditing and also assess the risk of spreadsheet failure.
Lastly, finding errors, inefficiencies, and fraud is largely about understanding patterns, and making exceptions to those patterns stand out. Statistical analysis is an essential tool in that process. Another essential tool is graphing. In this course, you’ll learn how to translate unwieldy files of financial data, with tens of thousands of transactions ranging from $1 to $10 million, into a single compact scattergraph, pie chart, or overlay—and then to pick out the key items that merit sampling and follow-up. 
Course Objectives
It is expected that after this seminar, each participant will understand:
  • How data analysis can work to uncover fraud, errors, and cost recovery opportunities.
  • The various types of technology used to detect fraud with a focus on Microsoft Excel to facilitate explaining data analysis concepts.
  • How data analysis is used to query and mine data for gold in the areas of accounts payable, payroll and general ledger.  Specific case studies will be reviewed and discussed.
  • How fraud scoring can use a customized weighting system to flag suspicious transactions.
  • How graphing can highlight key items for sampling and follow up.
 Richard B. Lanza, CPA, CFE – Bio
  • Over two decades of ACL and Excel software usage which is currently being organized on (Over 48 hours of training modules available)
    Winner of the second annual ACL Users Challenge (1999)
  • Wrote the first practical ACL publication on how to use the product in 101 ways (101 ACL Applications) as well as 12 other audit software related publications.
  • Has written and spoken on the use of audit data analytics for over 15 years.
  • Received the Outstanding Achievement in Business Award by the Association of Certified Fraud Examiners for developing the publication Proactively Detecting Fraud Using Computer Audit Reports as a research project for the IIA.
  • Recently was a contributing author of:
    • Global Technology Audit Guide (GTAG #13) Fraud in an Automated World – Institute of Internal Auditors.
    • Data Analytics – A Practical Approach- research whitepaper for the Information System Accountability Control Association.
    • Cost Recovery – Turning Your Accounts Payable Department into a Profit Center – Wiley and Sons.
  • CPA, CFE, with over 10 years of external/internal audit experience.
  • Currently builds customized continuous monitoring applications for clients