Benford's Law: A Valuable Audit Tool
Saturday, August 8, 2020
2CREDITSAuditing (Governmental), Accounting (Governmental)
Numbers—and especially the digits within those numbers—can conceal a lot of information. Benford's Law is the key to unlocking that information. This session will explain what Benford's Law is, how it works, and how it can be used to reveal bogus information and made-up data. Accountants and auditors should understand how to use this valuable audit tool. The session will also describe other digital analysis techniques that can be used to reveal evidence of fraud. But, if you take this course, you must promise not to reveal the secrets behind these techniques to any fraud perpetrators.
*Understand what digital analysis is, how it works, and why it works
*Understand Benford’s Law, when it works, and how it works
*Understand other digital analysis techniques
*Understand how to apply digital analysis techniques to detect fraudulent transactions