Fraud Analytics: Strategies and Methods for Detection and Prevention

CaseWare IDEA Data Analysis Software

HAVE YOU ever wondered how you could improve your fraud analysis or audit results? With CaseWare IDEA Data Analysis Software it's easy to learn capabilities are worth it. IDEA is very powerful yet easy to learn. My students find it very intuitive. Tasks in Excel that can take hours are done within minutes in IDEA. It looks like Excel so you can play around with it for a couple of hours and grasp the features.¹ My students are more apt to use IDEA not only in the classroom; many have adopted IDEA in their workplaces, simply because IDEA has shown that it is one of the most effective tools when converting data into information. In detecting fraud your goal is to establish the validity of the transactions; in conjunction with determining a specific reasoning as to why the transactions are associated with each entity. The associations are usually distinct in nature and provide an avenue to further discover additional nuances. IDEA is the tool for establishing transparency and direct correlations.² IDEA is most useful when there is a problem in audit, financial investigations, and financial statement fraud. Examples include assessing the extent of bad loans, looking at performance in collecting cash, or simply speeding up the time to prove calculations. When there is a need to determine if items are in error, a problem needs to be quantified, or ...