Controls that are designed to mitigate the risk of fraud are not perfect. Enterprise software such as Oracle and SAP may have built-in controls, but they are limited in scope to the data and processes that the software "touches". The most successful fraudsters know how to exploit interfaces between different processes and systems. Furthermore, the typical fraud case persists for 14 months prior to detection*.
Deploying data analytics for continuous testing can overcome many of the limitations of traditional fraud detection. Timely and appropriate detection will help organizations mitigate the impact of frauds. Robust fraud detection systems will also act as powerful deterrents.
In this session we will raise awareness about the various types of frauds and how they can be detected using automated data analysis techniques. We will also take a look at the *ACFE Report to the Nations - 2020 Global Study on Occupational Fraud and Abuse
Michael has 25 years of experience in data analytics and internal audit with organizations in the USA, Canada, and the Middle East. From 2015 to 2019, he was a senior member of the data analytics practice at Focal Point Data Risk, a US-based professional services firm. Prior to Focal Point, Michael led eBay, Inc.’s data analytics program in the Internal Audit department. He was tasked with integrating data analytics into the audit workflow on strategic and tactical levels. This included developing quality and documentation standards, training users, and providing analytics support on numerous audits in the IT, PayPal, and eBay marketplaces business areas. He also provided support to non-IA teams such as the Business Ethics Office and Enterprise Risk Management teams.
During his years at eBay, Michael supported audits throughout the organization in the IT, compliance, operations, vendor management, revenue assurance, T&E, and human resources areas. Michael's software experience includes Arbutus Analyzer, ACL Desktop/Direct Link, Alteryx, Microsoft Access, SQL, and Tableau. He led ACL Services Ltd.’s global training team for 8 years. He is a graduate of the UCLA Anderson School of Management.