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Fraud Data Analytics Methodology by Leonard W. Vona

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Chapter 15Fraud Data Analytics for Journal Entries

The auditing standards for journal entry testing must be the basis of selecting journal entries. An understanding of standards and the exercise of professional judgment can never be replaced. The following fraud data analytics methodology is intended to create a framework to help the auditor meet the intent of the professional standards of auditing. To assist the reader, we will start with an excerpt from the standard:

This chapter will discuss how to use the fraud scenario approach for journal entries and then provide seven different frameworks to create an overall fraud data analytics plan for journal entry testing for financial accounts. The last section will illustrate my experiences with how controllers ...

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