Benford's Law and Other Digital Analysis Techniques
1.50 Credits
Member Price $79
Non-Member Price $109
Overview
Numbers and especially the digits within those numbers can conceal a lot of information. Benford’s Law and other digital analysis techniques can be the keys to unlocking that information. This session will explain what Benford’s Law is, how it works, and how it can be used to reveal bogus information and made-up data. Accountants and auditors should understand how to use this valuable audit tool as well as other digital analysis techniques. But, if you attend this session, you must promise not to reveal the secret behind these techniques to any fraud perpetrators.
Highlights
- Benford’s Law
- Digital Analysis
- Data analytics
Prerequisites
None
Designed For
Accountants and auditors at all levels
Objectives
- How and why Benford’s Law works (and when it doesn’t)
- When to apply Benford’s Law
- Data analysis software that can perform Benford’s Law tests
- Other valuable digital analysis techniques
- Cases studies and success stories
Preparation
None
Leader(s):
Leader Bios
David Cotton, Chairman, Cotton & Company, LLP
Dave Cotton is founder and Chairman Emeritus of Cotton & Company, Certified Public Accountants, headquartered in Alexandria, Virginia. Cotton & Company was founded in 1981 and has a practice concentration in assisting Federal and State agencies, inspectors general, and government grantees and contractors with a variety of government program-related assurance and advisory services. Cotton & Company has performed grant and contract, indirect cost rate, financial statement, financial related, and performance audits for more than three dozen Federal inspectors general as well as numerous other Federal and State organizations, programs, activities, and functions. In April 2022, Cotton & Company became a subsidiary of Sikich LLP.
Dave has a BS in Mechanical Engineering and an MBA in Management Science and Labor Relations.
In May 2022, Governor Glenn Youngkin appointed Dave to the Virginia Board of Accountancy.
Non-Member Price $109
Member Price $79