Numbers-and especially the digits within those numbers-can conceal a lot of information. Benford’s Law is the key to unlocking that information. This session will explain what Benford’s Law is, how it works, and how it can be used to reveal bogus information and made-up data. Accountants and auditors should understand how to use this valuable audit tool. The session will also describe other digital analysis techniques that can be used to reveal evidence of fraud. But, if you take this course, you must promise not to reveal the secrets behind these techniques to any fraud perpetrators.
Fraud, Fraud detection, Data analysis, Digital analysis, Benford’s Law
Understand what digital analysis is, how it works, and why it works, Understand Benford’s Law, when it works, and how it works, Understand other digital analysis techniques, Understand how to apply digital analysis techniques to detect fraudulent transactions
David L. Cotton, CPA, CFE, CGFM is chairman of Cotton & Company LLP, Certified Public Accoun¬tants. Mr. Cotton received his BS in me¬chanical engineering (1971) and an MBA in management science and labor rela¬tions (1972) from Lehigh University in Bethle¬hem, PA. He also pursued gradu¬ate studies in accounting and auditing at the University of Chicago, Graduate School of Business (1977 to 1978).
Mr. Cotton is presently serving on the Advisory Council on Government Auditing Standards. He is a member of the Advisory Council of the Academy for Government Accountability. He is also a member of the advisory board of the Institute for Truth in Accounting. He is serving on the Institute of Internal Auditors (IIA) Anti-Fraud Programs and Controls Task Force, and is a former member of the American Institute of CPAs (AICPA) “Group of 100.” He served on the AICPA task force that wrote Management Override: The Achilles Heel of Fraud Prevention. He is the past-chairman of the AICPA Federal Accounting and Auditing Subcommittee and has served on the AICPA Gov¬ernmental Account¬ing and Auditing Com¬mit¬tee and the Government Technical Standards Subcom¬mittee of the AICPA Profes¬sional Ethics Execu¬tive Committee.
Mr. Cotton served on the board of the Virginia Society of Certified Public Accountants (VSCPA), and on the VSCPA Litigation Services Committee, Professional Ethics Committee, Quality Review Committee, and Governmental Accounting and Auditing Committee. He is member of the Greater Washington Society of CPAs (GWSCPA) and is serving on the GWSCPA Professional Ethics Committee. He is a member of the Association of Government Accountants (AGA) and is past-advisory board chairman and past-president of the AGA Northern Virginia Chapter. He is also a member of the Institute of Internal Auditors and the Association of Certified Fraud Examiners.
Mr. Cotton has testified as an expert in governmental accounting and auditing issues and fraud issues before the United States Court of Federal Claims and other administrative and judicial bodies. Mr. Cotton served as a technical reviewer for the 1999 through 2003 editions of the AICPA Audit and Accounting Guide Audits of Federal Government Contractors. Mr. Cotton is the author of the AICPA continuing education courses Fraud in Governmental and Not-for-Profit Audits—the Auditor’s Responsibilities Under SAS 82 and Joint and Indirect Cost Allocations: How to Prepare and Audit Them. He has lectured frequently on auditors’ fraud detection responsibilities under SAS 99, Consideration of Fraud in a Financial Statement Audit. He also has been an adjunct instructor at the Inspectors General Auditor Training Institute (Auditing the Federal Contracting Process and Contract and Procurement Fraud) and currently teaches at the George Mason University Small Business Development Center (Fundamentals of Accounting for Government Contracts).
Non-Member Price $109.00
Member Price $79.00