Oct
14
Largest Subset & Growth Tests
The first analysis of any data set need not use sophisticated mathematics or statistics. The goal of these test is
3 min read
auditmonk
Sep
17
Multilevel Marketing: You make More Money by Staying Away
Recently an old friend tried to sell me a unique business opportunity, like a once in a lifetime opportunity, by
3 min read
Sep
03
Fuzzy Logic: Analyzing Text Datasets
A challenging problem in analyzing text-based datasets is that a same record may be represented in multiple ways throughout the
3 min read
Aug
09
Luhn Algorithm: A Little Known Tool for Auditors
Luhn Algorithm also known as ‘modulus 10’ or ‘mod 10’ algorithm, was created by Hans Peter Luhn in 1954.
It
3 min read
Aug
01
Relative Size Factor: Finding Outliers
In my previous article Auditing: Accounts Payable / Vendor Payments I spoke about Relative Size Factor (RSF) and how it can
6 min read
Jul
24
Auditing vs Fraud Examination vs Forensic Accounting
In general terms, fraud is an intentional deception, whether by omission or commission, to realize a gain. Under common law,
1 min read
Jun
22
Spreadsheets: Best Practices (Part 3)
Spreadsheets are known to be error-prone. As per one study by Raymond Panko, 86% of spreadsheets contains errors. Errors in
1 min read
Jun
16
Spreadsheets: Auditing & Validating (Part 2)
In the previous post, Spreadsheets: Risk, I mentioned a few of the risks associated with spreadsheets. In this post, I’
6 min read
Jun
12
Spreadsheets: Risks (Part 1)
Spreadsheets have stood the test of time because they continue to meet the analytical needs of organizations, especially for analyzing
3 min read
May
28
Auditing: Accounts Payable / Vendor Payments
Accounts Payable is one of the crucial area in audit. As it represents the monies owed by the organization to
2 min read