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.
Learning Objectives
Upon successful completion of this course, participants will be able to:
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
Major Topics
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
