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Effective GL and JE Fraud Testing using Data Analytics

The top 10 essential tests to run to identify financial statement fraud

Financial statement fraud is the most costly form of corporate fraud with median frauds of roughly $1 million per occurrence. Manual journal entries are the easiest levers to quickly changing financial statements with statement analysis and journal entry reviews being the quickest methods to unearthing such frauds. But taking the first steps to build a solid fraud prevention program does not have to be expensive or time consuming. You can start by running 10 essential tests for example in journal entry and trial balance reviews.

Run key, proactive fraud tests – using existing financial software – in the general ledger, manual journal entries to the ledger, and completing other financial statement analysis.

  • Prioritize the top red flags of financial statement fraud, based on research culled from recent surveys.
  • Complete improved risk assessments (using data) to assess financial risk in the organization.
  • Understand the best and easiest steps to implement immediately.
  • Set up a program of regular fraud risk management surrounding financial statement frauds.
  • Using case studies and sample data / scripts, basic to intermediate ACL techniques will be discussed for completing a year end audit of journal entry postings in the general ledger.
  • How fraud scoring can use a customized weighting system to flag suspicious transactions.
  • How the general ledger can provide an electronic road map for analytics for fraud (and errors) within the organization. Specific analytics demonstrated will show you how to understand over 80% of the data population within a few minutes or hours…with the remaining 20% available for more specific review.
  • How to quickly gather report ideas and techniques for analysis, as well as, obtain a list of some of the top fraud tests by process area

This is a previously recorded 2-hour webinar from AuditNet® with Jim Kaplan and Rich Lanza.


Your Instructor


Jim Kaplan CIA CFE
Jim Kaplan CIA CFE


AuditNet® is the Global Resource for Auditors, and serves the global audit community as the primary communications resource with an online digital network where auditors share resources, tools, and experiences including audit work programs and other audit documentation.

As the first online portal for the global audit community, AuditNet® has been at the forefront of audit websites dedicated to promoting the use of technology. http://www.auditnet.org/

Jim Kaplan, the founder of AuditNet®, became a Certified Internal Auditor in 1984. He has continuously promoted and encouraged the use of technology and the Internet for audit productivity.

As an active member of the IIA, he has held many positions at the local and International level. He is a founding member of the Northern Virginia Chapter and served as Chapter President in 1989. He retired from his government audit director position in 2005. He is the founder and President of AuditNet®, the global resource for auditors, and has been identified as an Internet for Auditors pioneer. Jim's contributions to the profession were recognized by the IIA (2007 Bradford Cadmus award) and the Association of Local Government Auditors (Lifetime Achievement Award). In addition to the IIA, he is a member of the Association of Local Government Auditors and the Association of Certified Fraud Examiners.


Class Curriculum


  Video Lecture
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