As would-be fraudsters continuously innovate to avoid detection and remote work becomes the new norm, the use of data analytics to uncover misconduct is increasingly critical.

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Internal auditors and others involved in compliance-related diligence work should be using data-driven tools to become more empowered and efficient to better prevent, detect and remediate wrongdoing. After all, uncovering fraud can be difficult. It involves delving into the details, thinking like a fraudster and using in-depth knowledge of the organization’s processes and systems to increase awareness of where frauds may be hiding.

With in-person oversight of operations less practical now, fraud risk assessments and subsequent testing must consider how data analytics can play an integral role in preventing and uncovering misconduct.

In Accounting TodayJoshua DennisEva Weiss and Valerie Loverro explain how auditors can leverage data analytics to make schemes and scenarios testing, as well as fraud brainstorming, most productive. The authors also outline how to use data analytics to help uncover those “needle in a haystack” areas for further consideration.

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About the Authors

Joshua Dennis

Joshua Dennis has more than 15 years of experience working with clients and counsel on issues requiring complex data analysis, including investigations, economic damages, intellectual property, enforcement, forensic accounting, compliance […]

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Eva Weiss

Eva Weiss

Eva Weiss, a Partner with StoneTurn, has more than 25 years of experience in forensic investigations and compliance controls and monitoring for both the public and private sectors. Specifically, she […]

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Valerie Loverro

Valerie Loverro

Valerie Loverro, a Managing Director with StoneTurn, has more than 25 years of experience in forensic investigations, and compliance controls and monitoring. Working primarily with large financial services firms, she […]

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