Escape the analytics software 'black box'

Fraud examiner thought leaders are working to innovate anti-fraud processes. In this issue, column editor Vincent M. Walden, CFE, CPA, collaborates with Todd Marlin, CISSP, CCSP, CISM, of EY’s Forensic & Integrity Services practice. — ed.

New developments in forensic data analytics are breaking down traditional barriers to access, transparency and usability. You don’t need an advanced degree to use “data blending” software.

You're the regional compliance or internal audit manager of a global manufacturing company responsible for monitoring high-risk transactions and investigating suspicious or noncompliant activities. For years, you’ve relied on spreadsheets, database queries and random sample selections to scrutinize data and select areas for testing and due diligence. But you’re now so overwhelmed reacting to whistleblower hotline calls coming down from headquarters that you rarely have time to think about proactive anti-fraud data analytics procedures. Sometimes, you feel like you’re drinking from a firehose and wish you could be more proactive than reactive.