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      • Class 01 – Introduction to the Course and to Fraud
      • Class 02 – Fighting and Preventing Fraud
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      • Class 04 – Data Driven Fraud Detection – Investigating Concealment and Money Laundering
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      • Lab 01 – Install ACL / Review and Work with On-Line Documentation
      • Lab 02 – ACL Analytics Basics | CPE (1.5)
      • Lab 03 – Fraud Scandals of Note
      • Lab 04 – ACL Analytics Foundations (CPE) (ACL 101 V4 CPE)
      • Lab 05 – Remediating Issues & Reporting Results (CPE) (ACL 105 V1 CPE)
      • Lab 06 – ACL Analytics Introduction to Scripting (CPE) (ACL 106 V1 CPE)
      • Lab 07 – Basics of Datetime Fields Learning Series (Basic-Intermediate) (ACL 210)
      • Lab 08 – Basics of Datetime Fields Learning Series (Basic-Intermediate) (ACL 210) (Continued…)
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MIS5208 Spring 2018

DATA ANALYTICS FOR IT AUDITORS AND CYBERSECURITY

Summary Of Data Analytics class

April 17, 2018 by Parneet Toor

 

Blog:Summary Of Data Analytics class

Internal auditors with data analytics experience are becoming the rock stars of the profession. Not only are they in high demand among leading companies.

We learnt about ACL Analytics which is a data extraction and analysis software used for fraud detection & prevention, and risk management. By sampling large data sets, ACL data analysis software is used to find irregularities or patterns in transactions that could indicate control weaknesses or fraud. While doing ACL labs I learnt how to navigate through the application and earned basic analysis skills.

I learnt and performed Benford analysis where I analyzed the probability that the first digit of a number 1 is about 30% while the probability the first digit is 9 in each of the four places in any number. Benford’s law tests only the frequencies of the digits and it successfully created a table that counts transaction amounts that start with digits 1 through 9. Developed a fraud policy for the company was a great opportunity.

Study about fraud different fraud defense methods, Importance of fraud prevention, create a culture of honest, Hire right to reduce risks, assess and mitigate fraud, detect fraud early, approaches to fraud investigation, Options for legal actions in US. Recognizing the Symptoms of Fraud. Investigating Theft. How do perpetrators convert and spend stolen funds.Government records can assist in the following the financial tracks of the suspected perpetrators.

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