Data Sleuth: Using Data in Forensic Accounting Engagements and Fraud Investigations

ISBN-13: 9781119834380 / Angielski / Twarda / 2022 / 288 str.

Leah Wietholter

Spis treści

Foreword xiPreface xvAcknowledgments xixChapter 1: Building a Data Sleuth Team 1The First Team 2The Forensic Accountant 4Technical and Strategic 4Thorough and Efficient 5Detail-Oriented and Effective Communication 6Accounting Knowledge and Legal Knowledge 7Meeting Deadlines and Developing Business 8Forensic Accountant Problems 8The Scalability Problem 9The Strategy Problem 10The Review Problem 12The Sustainability Problem 13Data Sleuth Solutions 14The Scalability Solution 14The Strategy Solution 16The Review Solution 18The Sustainability Solution 18Chapter 2: The Data Sleuth Process 21Engagement Types 21Simultaneously Managing Client Expectations and Objectivity 25Professional Standards 28The Data Sleuth Process 30Chapter 3: The Data Sleuth Necessity 41Forensic Accounting Engagements versus External Financial Statement Audits 42The Evolution of Forensic Accounting 44The Case of the Cash Back Payroll Scheme 45Start with the Evidence, Not the Scheme 47The Case of the Gambling Executive Director 48Chapter 4: Data Sleuth Considerations 53Investigations Affect Real People 54The Case of the Nonexistent Inventory 55The Fraud Formula 58Staying on Task with Purpose in Mind 59The Investigation Decision Tree for a Data Sleuth 60Recovery Avenues 63The Case of the Man Cave 66Chapter 5: Client Communication and Involvement 71The Case of the Initial Client Meeting 72Client Expectations 75Data Procurement 77Client Involvement During an Investigation 78Ongoing Client Communication 81Chapter 6: The Data Sleuth Case Plan 83The Data Sleuth Process 83The Client's Investigation Priorities 86Evaluate the Subject's Access through Risk-Based Analysis 86Data Sleuth Analysis Framework 88From Conceptual Venn Diagram to Comparative Data Analysis 96The Data Analysis Plan 97Data and Information Gathering 99Communication of the Case Plan 101The Case of the Duplicate Payroll - Conclusion 102Chapter 7: Risk-Based Analysis 105The Case of the Puzzling Entries 106Risk Focus in Audits versus Risk Focus in Investigations 118The Case of the Mom of the Year 118Evaluating Risk in Divorce Cases and Estate and Trust Disputes 126Chapter 8: Data Sources and Data Processing Techniques 129Data Sources Explained 129Quantitative and Qualitative Data Sources 130Data Sources for Quantitative Evidence 130Data Sources for Qualitative Evidence 134Using Quantitative and Qualitative Data Sources 135Data Processing Techniques 136Relevant Period 136Getting Organized Before Beginning Data Processing 139Considerations Before Processing Data 144Account Scheduling Steps 145Formatting Account Schedules and Normalizing Payees 149Chapter 9: Standard Data Sleuth Analyses: Comparative Analysis and Source and Use Summaries 151Comparative Analysis 152The Case of the Cash Flow Fiasco 153Source and Use Summary and Analysis 156Bank Account Source and Use Analysis 157Credit Card Account Source and Use Summary 164Chapter 10: Standard Data Sleuth Analyses: Interesting Data Findings, Risk Indicator Analysis, and Payroll Analysis 169Interesting Data Findings 170Risk Indicator Analysis 175Payroll Analysis 180Overpayments of Payroll 189Chapter 11: Findings, Reports, and Testimony 193Findings 193Reports 196A Report for Criminal Charges 197Report Recommendations for Law Enforcement Referral 199An Expert Report for Civil Litigation 200An Expert Report for Insurance Reimbursement 201Report Organization Recommendations 202Testimony 203Chapter 12: Practice the Data Sleuth Process 207Review of the Data Sleuth Case Plan 207Review of Data Sleuth Data Processing 208Review of the Data Analysis Plan and Standard Data Sleuth Analyses 208Case Study 1: The Case of the Disappearing Business 209Case Study 2: The Case of the Sneaky CFO 213Chapter 13: The Cases that Went Wrong 219The Client Who Believes He Was Wronged 219The Client Whose Decisions Affect an Investigation 225Chapter 14: Data Sleuth Expansion 231Data Sleuth Empowers the Curious 232Data Sleuth Divisions 234Public Accounting Firms 235Consulting and Advisory Firms 236The Case of the Phony Professional 237Law Firms 239Law Enforcement 240The Future of Data Sleuth 240Data Sleuth as Prevention 240Licenses, Credentials, and Professional Development 241Appendix: Case Study Exercise Solution Recommendations 243Case Study 1: Exercise 1 - Solution Recommendations 243Case Study 2: Exercise 1 - Solution Recommendations 244Case Study 2: Exercise 2 - Solution Recommendations 246About the Author 249About the Website 251Index 253

O autorze

Leah Wietholter is a Certified Fraud Examiner, private investigator, Certified Public Accountant, and CEO of Workman Forensics in Tulsa, Oklahoma. She previously worked with the Federal Bureau of Investigation and as a Senior Certified Fraud Examiner at a public accounting firm in Tulsa. She runs The Investigation Game, an interactive continuing education experience and podcast that explores financial investigation strategies.