Fraud Detection Tools ON DEMAND
Available Until
Your Desk
2.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
Two tools for fraud detection are discussed in this course; Benford’s Law and the Beneish M Score. Both of these are powerful tools in the detection of fraud. Benford’s Law assists in the detection of transactional fraud while the Beneish M Score assists in the detection of fraud in financial reporting.
Highlights
Benford’s Law. History of Benford’s Law. Using statistics to interpret results. Benford’s Law example with manipulated data. Advantages of Benford’s Law. When to use Benford’s Law. Beneish M Score.
Prerequisites
None.
Designed For
Auditors, CPAs, and other accounting professionals.
Objectives
Describe how to use Benford’s Law to detect potential fraud. Define which Excel features can be incorporated when using Benford’s Law. Define and interpret the results of statistical test results and Benford’s Law. Define situations where Benford’s Lawis and is not applicable. Describe the Beneish M Score and its components.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Joseph Helstrom, Western CPE
Joseph Helstrom, CPA, is a partner at CFO Resources, LLC, a company focused on training and courseware for CPAs. He’s also the owner of Mill Creek Publishing LLC. Joe has over 30 years of experience as a CPA in both public accounting and industry, with extensive experience in financial reporting and analysis, treasury, tax, information technology, legal and regulatory matters, and strategic planning.
After graduation from Butler University with a degree in accounting, Joe got his start at Ernst & Young. Subsequent to that, he has served for several different companies as a chief financial officer; director of treasury and tax; controller; and manager of financial planning, reporting, and analysis.
Joe and his wife, Patricia McCarthy, produce self-study courses for Western CPE and have published articles in Missouri and Texas CPA society publications titled “Incorporating Excel Arrays into Your Audit Plan.”
Non-Member Price $67.00
Member Price $58.00