Image of Benford's Law:  A Valuable Audit Tool
Live Webcast Replay

Benford's Law: A Valuable Audit Tool


Total Credits: 2 including 1 Accounting (Governmental) - Technical, 1 Auditing (Governmental) - Technical

Average Rating:
   4.6
Category:
ACPEN Industry Institute |  Accounting and Auditing |  Industry
Faculty:
David L. Cotton, CPA, CFE, CGFM
Course Levels:
Update
Duration:
2 Hours
Product Type:
Live Webcast Replay
License:
Access for 30 day(s) after program date.

Please Note: Programs with a ☾ insignia begin after 5pm or air on the weekend.

Description

Numbers—and especially the digits within those numbers—can conceal a lot of information. Benford's Law is the key 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.  The session will also describe other digital analysis techniques that can be used to reveal evidence of fraud.  But, if you take this course, you must promise not to reveal the secrets behind these techniques to any fraud perpetrators.

Basic Course Information

Learning Objectives

*Understand what digital analysis is, how it works, and why it works

*Understand Benford’s Law, when it works, and how it works

*Understand other digital analysis techniques

*Understand how to apply digital analysis techniques to detect fraudulent transactions


Major Subjects

*Fraud

*Fraud detection

*Data analysis

*Digital analysis

*Benford’s Law


Course Materials

Faculty

David L. Cotton, CPA, CFE, CGFM's Profile

David L. Cotton, CPA, CFE, CGFM Related seminars and products: 10


DAVID L. COTTON, CPA, CFE, CGFM

COTTON & COMPANY LLP CHAIRMAN

 

Dave Cotton is chairman of Cotton & Company LLP, Certified Public Accoun­tants. Cotton & Company is headquartered in Alexan­dria, Virginia.  The firm was founded in 1981 and has a practice concentration in assist­ing government grantees and contractors, Federal and State government agencies, and inspectors general 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 two dozen Federal inspectors general as well as numer­ous other Federal and State agencies and programs. 

 

Cotton & Company’s Federal agency audit clients have included the U.S. Government Accountability Office, the U.S. Navy, the U.S. House of Representatives, the U.S. Capitol Police, the U.S. Small Business Administration, the U.S. Bureau of Prisons, the Millennium Challenge Corporation, the U.S. Marshals Service, and the Bureau of Alcohol, Tobacco, Firearms and Explosives.  Cotton & Company also assists numerous Federal agencies in preparing financial statements and improving financial management, accounting, and internal control systems.

 

Cotton & Company has conducted financial and compliance audits of federal contractors and grantees for numerous federal agencies and offices of inspector general, including the Department of Energy, National Science Foundation, Environmental Protection Agency, Department of State, Agency for International Development, Corporation for National and Community Service, and the Department of Justice.  Dave directed most of these engagements.

 

Dave received a BS in me­chanical engineering (1971) and an MBA in management science and labor rela­tions (1972) from Lehigh University in Bethle­hem, PA.  He also pursued gradu­ate studies in accounting and auditing at the University of Chicago, Graduate School of Business (1977 to 1978).  He is a Certified Public Accountant (CPA), Certified Fraud Examiner (CFE), and Certified Government Financial Manager (CGFM).

 

Dave served on the Advisory Council on Government Auditing Standards (the Council advises the United States Comptroller General on promulgation of Government Auditing Standards—GAO’s yellow book) from 2006 to 2009.  He served on the Institute of Internal Auditors (IIA) Anti-Fraud Programs and Controls Task Force and co-authored Managing the Business Risk of Fraud: A Practical Guide.  He served on the American Institute of CPAs Anti-Fraud Task Force and co-authored Management Override: The Achilles Heel of Fraud Prevention. He is the past-chairman of the AICPA Federal Accounting and Auditing Subcommittee and has served on the AICPA Gov­ernmental Account­ing and Auditing Com­mit­tee and the Government Technical Standards Subcom­mittee of the AICPA Profes­sional Ethics Execu­tive Commit­tee.  He authored the AICPA’s 8-hour continuing professional education course, Joint and Indirect Cost Allocations—How to Prepare and Audit Them.  Dave served as a technical reviewer for the 1999 through 2003 editions of the AICPA Audit and Accounting Guide Audits of Federal Government Contractors.

He is presently serving on the AICPA’s Performance Audit Standards Task Force and is chairing the Fraud Risk Guidance Task Force, sponsored by the Committee of Sponsoring Organizations (COSO) of the Treadway Commission and the ACFE.

 

Dave served on the board of the Virginia Society of Certified Public Accountants (VSCPA) and on the VSCPA Litigation Services Committee, Professional Ethics Committee, Quality Review Committee, and Governmental Accounting and Auditing Committee.  He is member of the Greater Washington Society of CPAs (GWSCPA).  He is a member of the Association of Government Accountants (AGA) and past-advisory board chairman and past-president of the AGA Northern Virginia Chapter.  He is also a member of the Institute of Internal Auditors and the Association of Certified Fraud Examiners.

 

Dave has testified as an expert in governmental accounting, cost accounting, contract claims, auditing, and fraud issues before the United States Court of Federal Claims and other administrative and judicial bodies. 

 

Dave has spoken frequently on cost accounting, professional ethics, and auditors’ fraud detection responsibilities under SAS 99, Consideration of Fraud in a Financial Statement Audit.  He has been an instructor for the George Washington University masters of accountancy program (Fraud Examination and Forensic Accounting), and instructs for the George Mason University Small Business Development Center (Fundamentals of Accounting for Government Contracts). 

 

Dave was the recipient of the AGA’s 2006 Barr Award (“to recognize the cumulative achievements of private sector individuals who throughout their careers have served as a role model for others and who have consistently exhibited the highest personal and professional standards”) as well as AGA’s 2012 Educator Award (“to recognize individuals who have made significant contributions to the education and training of government financial managers”).


Dates

Mon, Jul 29, 2019 - 01:00p to 03:00p CDT
Thu, Aug 08, 2019 - 09:00a to 11:00a CDT
Thu, Aug 22, 2019 - 01:00p to 03:00p CDT
Tue, Sep 10, 2019 - 04:00p to 06:00p CDT
Sat, Sep 21, 2019 - 08:00a to 10:00a CDT
Sat, Oct 05, 2019 - 07:00a to 09:00a CDT
Tue, Oct 15, 2019 - 07:00p to 09:00p CDT
Tue, Nov 05, 2019 - 01:00p to 03:00p CST
Tue, Nov 19, 2019 - 09:00a to 11:00a CST
Sat, Dec 07, 2019 - 01:00p to 03:00p CST
Mon, Dec 16, 2019 - 08:00a to 10:00a CST

Additional Info

Basic Course Information

Prerequisites

None


Advanced Preparation

None


Designed For

Internal and external auditors at all levels; risk management and compliance specialists at all levels


Original Recording Date

01/08/2018


Yellow Book

Yes


Course Developer

David L. Cotton, CPA, CFE, CGFM


Date Added to Catalog

01/03/2018


Additional Information

Complaint Resolution Policy Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).
Official Registry Statement

Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org


Instructional Delivery Method Group Internet Based
Course Registration Requirements Online Registration
Refund/Cancellation Policy Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.

Reviews

5
4
3
2
1

Overall:      4.6

Total Reviews: 51

Comments

Lin X - Katy, Texas

"Interesting Topic."

John M

"David Cotton is an excellent presenter and should be used often."

Dennis A - Caseville, Michigan

"Very interesting! Will need to get the book mentioned. Thank you"

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