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How to prevent employee theft and fraud with data analytics

An article by John Verver, “The Enemy Within: Stopping Employee Fraud,” has published in the UK’s Global Banking & Finance Review. John provides advice on applying data analysis to address travel & entertainment (T&E) expense and purchasing card (P-Card) fraud. Excerpt: D
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Top 25 Tests for Every Organization: Test 11, Payroll Phantom Employees

The hired hands of super villains often walk among us. They hide in plain sight, impossible to distinguish from the innocent bystander. Such is the case with phantom employees. A payroll transaction file contains thousands of legitimate employees, and it’s nearly impossible to d
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Help your Internal Audit Department Safeguard your Organization: Increase use of Data Analytics

According to a new survey conducted by Deloitte UK, 47% of respondents said that the increased use of data analytics would most help IA providing assurance over the risk of fraud.  Who am I to argue about that!  You can find the survey report here. It’s a good read. This is a very int
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Effective Fraud Detection through Simple Data Analysis

Fraud Magazine recently published a good article on using data analysis for fraud detection. One of the notable aspects is that the frauds described do not require particularly complex analysis to discover. Some fairly basic tests can provide indicators of the most commonly performed
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The Fraud Perspective: Why Data Mining Should Top Your New Year’s Resolutions

As we embark on the New Year, resolutions abound. For 2013, consider what you are going to do in the area of fraud prevention and detection. With the prevalence of data, whether big or small, I would suggest incorporating data mining into your fraud detection and prevention procedures
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Is this A Fraud Waiting-to-Happen?

What’s Corporate Culture all about and why is it important to an organization anyway? Is this something that can be audited? It sure isn’t something that lends itself to data analysis, or is it? Just the other day I was in our Marketing department, chatting about Social Me
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Using Data Analysis in Risk Assessment

We all know – or should know – that Internal Audit is charged with providing assurance to their organization on risk management. Many audit departments are providing those assurance services with the traditional, top-down look at risk.  That’s a necessary and proper
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ACL Desktop 9.3: Faster, Stronger and Smarter, just in time for the Summer Olympics!

The recent announcement of ACL Desktop 9.3 is wonderful news.  There’s a lot to 9.3, be you a fraud fighter, script writer or all-round ACL aficionado.  The release has some really interesting enhancements including a new command (Fuzzy Duplicates) and 3 new functions: ISFUZZYDU
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Data Analysis to the Rescue: Fighting Credit Card Fraud in the Airline Industry

Q&A with Kreso Suntesic, Internal Auditor, Croatia Airlines ACL: How long has Croatia Airlines been using ACL? Kreso: We have been an ACL Desktop premium supported customer since 2005. We find it to be a very helpful, flexible data analysing and auditing tool. ACL: Tell us a bit a
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Crime Capers and Fraud-Fighting Tips

Last month, we ran a book giveaway contest within the ACL Services LinkedIn Group. After crossing paths with local author and Accountant Colleen Cross on twitter, we learned about her fascinating new series of crime capers starring Forensic Accountant Kat Carter.  The first of the ser
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