Business Law, Public Responsibility, and Ethics Commons^™

A Close Look At Audit Standards And Best Practices How To Validate The Existence Of An Asset, Luis Lebron

Economic Crime Forensics Capstones

A comparative analysis will be conducted seeking to identify how to obtain sufficient evidence to determine the existence of an asset within an organization during an independent audit. The external auditor is often regarded as the “gatekeeper” of the financial markets which has a fiduciary duty to its clients. (Choy, Fields, & King, 2008) Accounting firms are required by operation of law to act in an ethical manner and have a social responsibility to protect the interest of the public. However, there exists an ongoing issue in the performance of audits by larger firms. In a recent study conducted by …

Analyzing Proactive Fraud Detection Software Tools And The Push For Quicker Solutions, Kerri Aiken

Economic Crime Forensics Capstones

This paper focuses on proactive fraud detection software tools and how these tools can help detect and prevent possible fraudulent schemes. In addition to relying on routine audits, companies are designing proactive methods that involve the inclusion of software tools to detect and deter instances of fraud and abuse. This paper discusses examples of companies using ACL and SAS software programs and how the software tools have positively changed their auditing systems.

Novelis Inc., an aluminum and recycling company, implemented ACL into their internal audit software system. Competitive Health Analytics (Division of Humana) implemented SAS in order to improve their …