Your cart is currently empty!
Benford’s Law: Applications for Forensic Accounting, Auditing, and Fraud Detection
Price: $84.00 – $55.19
(as of Dec 24,2024 03:25:29 UTC – Details)
ASIN : 1118152859
Publisher : Wiley; 1st edition (April 24, 2012)
Language : English
Hardcover : 352 pages
ISBN-10 : 9781118152850
ISBN-13 : 978-1118152850
Item Weight : 1.71 pounds
Dimensions : 7.55 x 1.25 x 10.3 inches
Customers say
Customers find the book well-written with a good amount of context and background information. They appreciate the author’s skill in juxtaposing ideas from various sources and delivering a compelling narrative that offers new ways of looking at their work. The book provides practical applications and interpretations for theory and day-to-day use, providing an incredible set of tools. Many customers consider it a valuable resource and Nigrini’s best work.
AI-generated from the text of customer reviews
Benford’s Law is a mathematical principle that states that in many sets of numerical data, the leading digit is more likely to be smaller. This law has important applications in forensic accounting, auditing, and fraud detection.
Forensic accountants can use Benford’s Law to detect irregularities in financial data. By analyzing the distribution of leading digits in a set of numbers, forensic accountants can identify potential manipulation or fraud. If the data deviates significantly from the expected distribution according to Benford’s Law, it may indicate that the numbers have been altered or falsified.
Auditors can also benefit from using Benford’s Law as a tool to detect errors or fraud in financial statements. By applying the principle to the financial data they are examining, auditors can quickly identify anomalies that may require further investigation. This can help auditors uncover inaccuracies or inconsistencies that may have been overlooked through traditional auditing methods.
In fraud detection, Benford’s Law can be a valuable tool for identifying suspicious patterns in financial transactions. By analyzing transactional data using Benford’s Law, investigators can pinpoint transactions that may be fraudulent or manipulated. This can help organizations prevent and detect fraudulent activity before it causes significant financial harm.
Overall, Benford’s Law provides a powerful and reliable method for analyzing numerical data in forensic accounting, auditing, and fraud detection. By understanding and applying this law, professionals in these fields can enhance their ability to uncover discrepancies, errors, and fraud, ultimately leading to more accurate and reliable financial reporting.
#Benfords #Law #Applications #Forensic #Accounting #Auditing #Fraud #Detection
Leave a Reply