Fraud Audit Techniques Using Excel (FAMC)

Customer Rating
Field of Study
Computer Software & Applications
Level
Intermediate
Credits
2
Qualifies For
CPE



Price:  $19.99
Microsoft Excel provides some easy to use tools that can greatly enhance and expedite the fraud audit process. With all detective work, you want to be able to sift through a large volume of data and utilize a tool that is adequately flexible for you to perform immediate investigations of anything questionable. Excel provides a number of different tools however we are going to focus on a couple of extremely useful ones: Auto filter, Arrays as well as a couple of extremely useful functions that include TEXT,WEEKDAY, IFERROR, IFNA MATCH and MOD. Another tool used in fraud audits that does not necessarily require Excel, but can be used in conjunction with Excel, is Benford’s Law. Benford’s law is based on an observation that in certain large data sets, certain digits appear more frequently than others. By comparing the distribution of first digits in some accounting data, this tool can assist you in determining where more investigation is necessary by helping to pinpoint where data may have been contrived t

Additional information

Credits

2

Format

Self-Study Download

Company Code

Self Study

Yellow Book Approved

0

CFP Approved

0

IRS Approved

0

CTEC Approved

0

Field of Study Credits

Computer Software & Applications (Non-Technical) (2)

Field of Study Department

Computer Software & Applications (Non-Technical)

Course Version

2019-01

CPE Approved

1

Pre-requistes:

Knowledge of how to use basic formulas and functions

Knowledge Level:

Intermediate

Major Topics:

  • Getting Started with Auto
  • Filter
  • Searching for P.O. Boxes
  • Text Filters
  • Checking EIN Numbers
  • Missing EIN or Telephone Number
  • Reviewing Items Below a Review Threshold
  • Comparing Lists Using Arrays
  • Text functions 
  • Benford's Law

Learning Objectives:

  • Identify the uses of auto filter in fraud auditing
  • Recognize when auto filter and conditional formatting may be utilized to highlight exceptions
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Designed For:

All CPAs