Correlation Analysis



Data Analytics Event Series

Fraud Detection: The Power of Correlation Analysis

So you’ve got all these audit data analytics dashboards. But how can you know, for any given supplier or customer, which tests they show up in? If you pick a supplier from the list, wouldn’t it be great to see—out of all the tests—which ones they were flagged by?

 

But are they really a risk to the company? What if you could see whether or not they also share a bank account with an employee, have invoices without purchase orders and get paid in cash? Now their risk profile is much higher. So we finished building out our 300 must-have data analytics. The next stage is to correlate them all. In this event, I’ll show you how we add a little bit of code to do that in an easy, organized way.

  • Learn about the importance of correlation within internal audit and how it can help us to detect fraud
  • Find out about how useful correlations are when trying to identify suppliers or transactions that have more than one problem
  • What are the kinds of tests we can use when considering potential fraud schemes.

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This event is part of our Data Analytics series. For your convenience, you’ll only need to register once to get the Zoom link sent to your email for all events in the series. You can unsubscribe at any time.

You can network with other internal auditors interested in this topic and share your perspectives in the Data Analytics collaboration group. We will also upload the slide deck and any event resources there.

Claire Worledge is a Certified Information Systems Auditor (CISA), Certified Fraud Examiner (CFE) and Certified ACL Data Analyst (ACDA). She spent 10 years working for Deloitte, managing the data analytics team. Claire also has a Masters in IT from University College London, as well as a Bachelors in Biochemistry.

 

In 2010, she created Aufinia, which is a consulting firm for 50 different companies that use SAP over the years. Today, a lot of their work is for MNCs using SAP who are based in Europe, APAC and the US. Aufinia also works for some major retail companies based in China. Aufinia is a global OEM partner with QLIK and also a Galvanize reseller partner for Vietnam and China.

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