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Forensic Analytics: Methods and Techniques for Forensic Accounting Investigations (Wiley Corporate F&A)

Forensic Analytics: Methods and Techniques for Forensic Accounting Investigations (Wiley Corporate F&A) [Kindle Edition]

Mark Nigrini
1.5 out of 5 stars  See all reviews (2 customer reviews)

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"Golden, a recognized, practice management advisor and marketing specialist I social media use and strategy, particularly in the Certified Public Accountant field, has written an accessible, comprehensive guidebook to social media for professionals and their firms with an emphasis on the accounting and legal industries. She sets forth a one–stop, reference handbook that can be read from cover–to–cover or by chapter, as needed." ( Security Management )

Product Description

Discover how to detect fraud, biases, or errors in your data using Access or Excel

With over 300 images, Forensic Analytics reviews and shows how twenty substantive and rigorous tests can be used to detect fraud, errors, estimates, or biases in your data. For each test, the original data is shown with the steps needed to get to the final result. The tests range from high-level data overviews to assess the reasonableness of data, to highly focused tests that give small samples of highly suspicious transactions. These tests are relevant to your organization, whether small or large, for profit, nonprofit, or government-related.

  • Demonstrates how to use Access, Excel, and PowerPoint in a forensic setting
  • Explores use of statistical techniques such as Benford's Law, descriptive statistics, correlation, and time-series analysis to detect fraud and errors
  • Discusses the detection of financial statement fraud using various statistical approaches
  • Explains how to score locations, agents, customers, or employees for fraud risk
  • Shows you how to become the data analytics expert in your organization

Forensic Analytics shows how you can use Microsoft Access and Excel as your primary data interrogation tools to find exceptional, irregular, and anomalous records.

Product details

  • Format: Kindle Edition
  • File Size: 22673 KB
  • Print Length: 480 pages
  • Publisher: Wiley; 1 edition (12 May 2011)
  • Sold by: Amazon Media EU S.à r.l.
  • Language: English
  • ASIN: B0051BLS40
  • Text-to-Speech: Enabled
  • X-Ray:
  • Average Customer Review: 1.5 out of 5 stars  See all reviews (2 customer reviews)
  • Amazon Bestsellers Rank: #672,058 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Most Helpful Customer Reviews
1 of 1 people found the following review helpful
1.0 out of 5 stars Waste of Money 20 Mar 2013
By Gil1979
Format:Kindle Edition
I had to purchase this book for class, the book was very confusing and didn't help me. I would not recommend this book. It did not help with access or excel. There is probably a better book out there to purchase for a more reasonable price!!!
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1 of 3 people found the following review helpful
2.0 out of 5 stars Outdated and academic 25 Oct 2011
Format:Hardcover|Verified Purchase
I had to stop reading it in the middle, it definitively proved a time waster for several reasons:
1) I tried to find the purpose to use Access for analytical and audit review: ACL is much more productive in my view, so why bother? For instance, 4 chapters about Bendford Law can be put in practice in a few minutes using ACL Bendford feature.
2) There is no practical description about the Excel new pivot table and statistical features, and it totally misses the new Excel 2010 features (although the book is issued in 2011).
3) Examples of analytical review cover "oil consumption in a US State" and "poll results in California"... not really practical for our usual auditing reviews.
4) Writing style is confusing and overly academic, totally lacking any humor.
Typical university book, not adapted to practical investigations.
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Most Helpful Customer Reviews on (beta) 4.9 out of 5 stars  17 reviews
7 of 7 people found the following review helpful
5.0 out of 5 stars Helpful for forensic testing using Excel and Access 21 Jun 2011
By Drake Mandrake - Published on
I found this to be a helpful book. The data analysis tests in Forensic Accounting can be used as high-level reasonableness tests to determine whether private or public sector data is free of fraud, errors or biases. While the tests can't guarantee that everything is clean and correct, they will detect the larger and more obvious errors. The author starts with some high-level overview tests and then drills deeper into the data to find irregular patterns. The Relative Size Factor tests and the Same-Same-Different test have been used with much success in detecting problems with accounts payable data.

Benford's Law fans will not be disappointed--the book includes four full chapters on Benford's Law and it is also covered in three other chapters. The final chapter on purchasing card fraud has interesting examples of actual fraud, an Excel dashboard, and an example of a real analysis of real company data. The book has tests that will be new and valuable to seasoned forensic accountants as well as some basic tests that will be immediately usable for beginners. If you have Excel or Access and your own data, then you could probably use many of the tests in the book right away. This book shows how to run most of the tests in both programs. It should be useful to forensic accountants, auditors, and other accounting and finance types who work with data.
4 of 4 people found the following review helpful
4.0 out of 5 stars A very good review of the topic 5 Mar 2012
By Duncan Williamson - Published on
Format:Kindle Edition
Forensic Analytics: Methods and Techniques for Forensic Accounting Investigations (Wiley Corporate F&A)I bought this book to help me with a course I was about to run on detecting fraud. I know Excel very well, I know Access a bit, I am very familiar with statistics. I have been a fan of Benford's Law for several years and have even had articles on the topic published.

Nevertheless, I knew that Dr Nigrini was one of THE leading lights in this topic and I have to say I was not disappointed. I bought the Kindle version of the book so I have to say that I cannot comment on the layout of the book and so on because Kindles are not the best place to see perfect layouts!

The contents are good and the progression of topics is good and logical. I have to say, however, that personally speaking, I didn't need the information on Access and PowerPoint but I can see why they were included.

I did learn a few things from this systematic study of forensic analytics and was pleased to see Dr Nigrini's views on how to deal with results from a Benford's Law analysis. Learning these things made my own understanding and presentations a little better.

I have to say that I didn't have a lot of time to consider the mantissa arc and Kolmogorov-Smirnoff tests but I liked the correlation test: nice, simple and easy to use and explain.

There is a batch of cases to work on, heating oil sales, stock market information and construction data. There is even a very large database of invoice information to work with (approx 189,000 invoices) that will stretch your Excel resources but which will be useful for anyone wanting to work with a real data set.

Overall I found the explanations nice and clear and for anyone looking for a good introduction to the topic, this is a good start.
4 of 4 people found the following review helpful
5.0 out of 5 stars Forensics for Purchasing Card Administrators 1 Oct 2011
By Robert Notman - Published on
Dr. Nigrini's book on forensic analytics is nothing short of amazing especially for those of us that haven't used statistics or analysis since high school or college. I'll admit that when I first received the book I was disappointed that there was only one chapter (18) that deals specifically with purchasing cards (PCards). However, as I began to read the book I realized that all of the other chapters help you understand your PCard records and are explanation of tools to help you perform analysis.

The book covers using MS Access, Excel and PowerPoint for forensic investigation or presentation of forensic analysis. The author also includes many tests that you can apply to look for fraud (misuse/abuse). You also have access to a website that has a lot of examples and data from the various chapters to help you understand the text.

Reading the book was my first introduction in using Benford's Law and applying it to card data. It was interesting to see my data reviewed with Benford's Law. I haven't attempted to apply the other tests to my data yet, but will as I complete reading the book.

If you are a Purchasing Card Administrator interested in mitigating risk, this is a book that can help you understand how to review the data.
3 of 3 people found the following review helpful
5.0 out of 5 stars Palantir stone for auditors & forensic accountants 8 Nov 2012
By Kurt S. Schulzke - Published on
No auditor or forensic accountant really knows the craft without absorbing Mark Nigrini's highly readable, entertaining and insightful tome, Forensic Analytics. The book's major contribution is a suite of mathematical tests dubbed the "Nigrini Cycle," an amazingly easy tool for quickly zeroing in on possible waste, fraud, and inefficiency in A/R, A/P, travel expenses, payroll, Medicare billings, and P-cards, to name a few.

Financial analysts of all stripes -- external auditors, forensic investigators, and internal auditors -- not only can but should read this book, as a matter of professional due diligence. I love how Mark walks the reader, screen-by-screen, through the Nigrini Cycle using MS Excel and Access. Sr. Manager - Partner types who think themselves incapable of using Access might want to reconsider. With Nigrini's help, MS Access really is like falling off a log. (Bad pun that only readers of the book can appreciate.)

After dabbling in Benford's Law in the summer semester, 2012, now, in the fall semester, the use (not just the reading) of Forensic Analytics is a requirement of my Forensic Accounting students in Kennesaw State University's Master of Accounting program. With the Nigrini Cycle in their professional tool-kit, our grads will have a significant leg up on the competition -- until everyone else catches on, as they certainly should.

Back in the summer, I introduced Benford's Law to a local large-firm audit partner. This morning, he told me that they have now used Benford's Law on some of their audit engagements. Describing the experience, his face lit up as if he were describing a favorite golf club. "This thing really works! And the clients love it." In the auditing business, a math tool that triggers such a response is something special. No, I am not writing on commission. Yes, you will love this book and what it does for your understanding of numbers, especially financial ones.
2 of 2 people found the following review helpful
5.0 out of 5 stars Another winning title from Dr. Nigrini 24 Oct 2011
By Richard Lanza - Published on
The book is written for forensic accountants, internal auditors, external auditors, and almost anyone else that has an interest in detecting fraud and other anomalies in corporate or government data. The focus is on getting practical results, and the text would be readily understood by readers with a business degree and an enthusiasm for data analysis. Topics include duplicates testing, ratio testing, relative size factor testing, risk scoring, purchasing card fraud, financial statement fraud, correlation and time series analysis, and risk assessment of forensic units.

Dr. Nigrini is best known for his pioneering work, starting in the 1990's, on the uses of Benford's Law of digit frequencies in forensic investigation. Roughly a third of the book is concerned with Benford-related digit-frequency analysis. Here the treatment is slightly more thorough and academic in flavor, but it remains focused on real-world results. Nigrini continues to produce original insights on this theme, with a lengthy description of a brand-new `second order' Benford test technique. Instead of focusing on the digit frequencies of individual items, this test focuses on the digit frequencies of the differences between ranked items. Nigrini shows how this can highlight problems not found by standard Benford testing.

All the tests described in the book are run using Microsoft Excel or Microsoft Access, with numerous screenshots to illustrate the steps. There are some challenges in doing high-level statistical analysis using these tools, and for very large data sets users might prefer an add-in tool, or a package like SAS. For most purposes however standard Excel or Access are quite sufficient. The reader is referred to a companion website which provides sample data sets, class assignments, and PowerPoint slides for anyone wanting to use the book as a text.

The book is a unique resource with regard to Benford, and lays out a solid foundation for financial forensic work in general. Strongly recommended.
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cycle of tests is designed to point the investigator toward (a) finding fraud (where the fraudster has excessively duplicated their actions), (b) finding errors (where the error is systematic), (c) finding &quote;
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