FRAUD

Tuesday, December 1, 2009
8:30 - 4:30

Quorum Hotel & Conference Center (Map)

RSVP On-line - When attending under the pre-paid plan, please RSVP with the specific attendees each time.

Price* - $175 members of IIA, ISACA or IMA, $200 non-members

* - for non IIA Package holders

Using Data Mining to Detect Fraud & Error

In today’s complex environments fraud and error are buried in a myriad of transactions originating from numerous locations. This has made the traditional audit techniques of small random or statistical samples less effective at detecting fraud and error. Data mining techniques allow the auditor and finance professional to quickly analyze those numerous transactions to seek odd patterns in the data which can be targeted for further testing.

Participants will learn:

What techniques have been used to successfully detect fraud and recover millions of dollars
Why data mining techniques, when combined with traditional audit techniques such as observation and confirmation, result in the most powerful, most effective audits
How to incorporate data mining techniques into their audit programs to detect the symptoms of fraud and error
Why data mining techniques increase the efficiency and effectiveness of regular audits
What symptoms of fraud look like in data mined results
How to avoid common pitfalls in data mining
How to handle the common objections related to data mining
How to apply data mining to audits of several different financial statement and operational areas
How to apply data mining to the five-step approach to fraud detection
How to improve your sampling techniques with data mining
Why data mining allows you to test one hundred percent of a population

Scott Langlinais, CPA

Scott Langlinais is a Fort Worth–based consultant specializing in fraud and audit advisory services. Scott is affiliated with Courtenay Thompson & Associates for the purpose of developing and providing training on fraud-related topics. He is the developer and instructor for Fighting Fraud Using Data Mining offered several times annually through Audimation Services Inc. and Using Data Mining to Detect Fraud & Error offered through Courtenay Thompson & Associates. He has delivered in-house fraud prevention courses for clients, spoken at fraud conferences for the AICPA and the IIA as well as local meetings of professional associations.

In his current work, Scott assists company executives in performing fraud risk analyses and establishing a control environment that is hostile towards fraud. On a tactical level, he uses data mining techniques and a five-step approach to testing that is designed to detect fraud and waste and to enhance investigative results. Scott also uses data analysis software to create customized fraud watch programs for Internal Audit and operational departments. He has trained departments to use these programs to perform self-audits and optimize controls. Additionally, he uses the software to create continuous monitoring processes that rate departments based on risk criteria customized to the business.

Prior to becoming a consultant, Scott was in public accounting and internal audit leadership positions, and he served as Director of Internal Audit for a publicly held software company. His experience includes leading investigations of suspected wrongdoing. His investigations of fraud and gross negligence have resulted in removal of perpetrators, successful litigation, and recovery of millions of dollars.

Scott received a BBA degree from the University of Notre Dame.

Seminar Outline in PDF