Fraud Detection Tools: Benford's Law And The Beneish M Score ON DEMAND

Overview

Before this course, the challenge of detecting financial fraud might seem daunting, given the complexity and subtlety with which it can manifest. This course acts as a bridge to acquiring advanced skills in fraud detection using Benford’s Law and the Beneish M Score. After completion, you’ll move from a basic understanding of fraud detection to mastering these two sophisticated tools. Benford’s Law will become a go-to method for identifying irregularities in transactional data, while the Beneish M Score will equip you to assess the likelihood of manipulation in financial statements. This transformation from general awareness to specialized expertise in fraud detection empowers you to proactively identify and address potential financial anomalies, significantly strengthening the financial integrity of your organization.

Highlights

Benford’s law overview. History of Benford’s law. Using statistics to interpret results. Benford’s law example with manipulated data. Using Excel to identify subsets of data for further analysis. Advantages of Benford’s law. When to use Benford’s law. Benford’s law used with world populations. Benford’s law summary.

Prerequisites

None.

Designed For

CPAs, controllers, accountants, financing professionals, business owners, managers and others responsible for prevention, detection, or evaluation of potential fraud.

Objectives

Recognize how to use Benford’s Law to detect potential fraud. Identify situations where Benford’s Law is and is not applicable. Recognize the Beneish M Score and its components.

Preparation

None.

Notice

None.