Using Excel to Detect Fraud

Why Should You Attend:

Properly informed, administrative and financial professionals can serve as fraud auditors and add huge value to their department. Using Excel's fraud related applications, you can data mine huge volumes of accounting transactions in an organized manner and recover substantial amounts of money for your firm.

Excel provides several easy-to-use tools that can greatly enhance and expedite the fraud audit process. This course will demonstrate how to use a variety of Excel tools along with step-by-step instructions that you can put to immediate use to help your firm spot fraud red flags.

This interesting, informative, practical, on-the-job training combines the best aspects of two different but related topics: (1) Fraud Auditing and (2) Excel Tools for Data Mining, Statistics, Analytics, and many more useful Excel tools.

Learning Objectives:

Overview of fraud

• Scope and size of fraud annually
• Internal control and segregated functions
• Understanding and using the fraud triangle

Troubleshooting potential fraud red flags with Excel designed analytics

• Horizontal and vertical analysis
• Metrics: ratio analysis and disaggregated information
• Trend analysis - charting linear regression analysis for speed
• Sample dashboard analytics and fraud red flags

Understanding and using Benford's law with Excel to spot potential fraud

• Establishing a template for expectations vs. actual results
• First and second digit test and needed Excel functions
• Limitations of Benford's law

Using gaps in numbers to spot fraud red flags with Excel

Using Excel's special tools and functions to spot fraud red flags

• Excel tools for spotting duplicate payments: payroll, vendor invoices, and more
• Stratifications, frequencies and maximum analysis
• Receivables and inventory
• Payables, payroll and disbursements
• Finding fictitious vendors, payroll comparisons, duplicate payments, and more
• Fictitious sales - bonuses to salesmen - using pivot tables to age receivables
• Fraudulent travel and expense account items
• Auto fleet: fraudulent gas purchases

Areas Covered in the Webinar:

• Establish a system of internal control that makes fraud difficult
• Use automated analytics to spot potential fraud
• Learn the high risk areas for fraud - spot fraud red flags
• Master several Excel functions and analysis tools used to detect fraud
• Understand Benford’s law and apply it to Excel
• Recover misused assets and add value to your organization

Who Will Benefit:

• CPAs
• CFOs
• Data Analysts
• Staff Accountants
• Finance and Accounting Department Personnel
• IT Analysts
• Internal Auditors
• Financial Analysts
• Budget Directors
• Government and Private Industry Financial Professionals

Joe Weil
CEO, NCCE

Joe has a Master of Accounting Degree from Florida State University and is an actively licensed Florida CPA. Joe’s work experience includes staff accountant with large CPA firm, corporate controller, state agency director of auditing and former municipal CFO. Joe also started and sold his own CPA firm. Joe is the owner and CEO of the National Center for Continuing Education, a nation-wide financial and technology training firm. Joe has led over 500 seminars and over 100 webinars.

Mr. Weil earned his Master of Accounting Degree at Florida State University. His training clientele include Harley-Davidson, Hewlett-Packard, Oracle, Deloitte, Florida Power and Light, Motorola, National Institute of Science and Technology, and many others.

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