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Data Analytics for Auditing and Fraud Detection in Big Data Era

This course will expose the participants to various quantitative and qualitative data analysis techniques to detect fraud and errors. Participants will also learn how to use data analytics toad value to organization, as well as gain insight to digital forensic and digital surveillance.

Objective

With today intensive use of integrated systems storing gigantic amount of financial and non-financial data, hardly can any accounting, auditing or investigation work be conducted without data analysis. Valuable evidence may be staring at the accountant and auditor but not picked up if they do not know how to mine and connect the seemingly unrelated data to make sense out of it. The irreversible trend of Big Data and pressure to remain competitive have compel organization to make use of data analysis and continuous monitoring to understand business trend and consumer behaviours, as well as to detect fraud.

Knowing how to pick up data profile and pattern in data analysis to identify red flags have become indispensable skills of today accountant and auditors. Knowing what tool to use to acquire admissible digital evidence and how to search through pile of electronic files and email certainly is a must have skill for today’s auditors. This course will expose the participants to various data analysis techniques, tools and templates in the conduct of audit or investigation.

On completion of this program participants will:

• Acquire the overall concept of data analysis in detecting fraud
• Better equipped to identify irregularities in data trend and data profile
• Able to perform qualitative data analysis
• Understand rules governing digital evidence, digital forensic and online investigation
• Understand about procedures in digital forensic and continuous monitoring
• Gain knowledge on common detection techniques of fraud/ wrongdoing

Outline

1. Data Analysis - Overview

• What is data analysis?
• Three Reason Data Analysis is Must
• Data Analysis in Auditing vs Investigation
• What can Data Analysis do and can’t

2. Common Analysis Procedures

• Financial Ratio, Variance, Percentage, Aging, Average
• Common analysis functions
• Filter / Sort/ Join / Append/ Pivot/ Trend / Regression / Ratio
• Vlookup/ Eye-lookup/ Grouping/ Summarization/ Stratification

3. Two type of Data Analysis

• Quantitative - Sorting, Category, Relationship, Profiling
• Qualitative - Contextual, Behavioural

4. Performing Data Analysis

• Gap analysis
• Duplicate analysis
• Fuzzy duplicate
• Orphan transactions
• Timing analysis
• Limit and Reasonableness
• Trend and Outlier
• Unwanted match
• Aging, Stratification, Sampling

5. Performing Data Profiling

• Frequency tests
• Intensity tests
• High risk tests
• Relative Size tests
• Digit Frequency tests (Benford)
• Concentration test (GEL)

6. OLAF Approach in Data Analysis

• Object Locate Analyse Follow
• Understand "Miscarriage of Justice" and "Impurity of Finding"

7. Beyond Data analysis and Digital Forensic - What Next?

• Finding confirmation
• Determine root cause
• Develop Hypothesis
• Move on to interview and interrogation

Who should attend

Methodology

Presentation, group discussion, and case study. Multimedia, game and templates sharing

Profile of Kent Hoh

Kent Hoh is a prolific trainer in audit, fraud investigation and corporate governance. Kent Hoh has wide ranging experience in leading compliance and audit functions in Asia Pacific as well as forensic investigation team globally. Kent Hoh conducted various successful projects in Asia Pacific, Europe and America. Several of the projects involved multi-million dollars’ scheme and made headlines locally. Kent holds a MBA, Bachelor of Law (Hons), and a Bachelor of Accounting (Hons). He is also a Certified Fraud Examiner (CFE). Kent passed the qualifications of the UK Chartered Secretary and Administrator (ICSA), Malaysian Institute of Certified Public Accountants (MICPA) and Certified Information System Auditor (CISA).

Kent Hoh has been an active trainer for several accounting and audit professional associations, SME and MNC in South East Asia. He is also a frequent speaker for several universities in Shanghai, Nanjing and Hangzhou, China. Kent Hoh is currently serving as Vice President of Internal Audit in a company listed in SGX.