Benford's Law - A Valuable Audit Tool
Live Webcast Replay

Benford's Law - A Valuable Audit Tool


Total Credits: 2 including 2 Auditing

Average Rating:
Not yet rated
Categories:
Accounting and Auditing |  ACPEN Industry Institute |  Partner Produced
Faculty :
David L. Cotton, CPA, CFE, CGFM
Course Level:
Intermediate
Duration:
2 Hours
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. But, if you attend this session, you must promise not to reveal the secret behind the technique 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

*Benford's Law

*Digital Analysis

*Fraud

*Auditing


Course Materials

Faculty

David L. Cotton, CPA, CFE, CGFM Related seminars and products: 3


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

Sat, Apr 29, 2017 - 12:00p to 01:42p EDT
Tue, May 16, 2017 - 05:00p to 06:42p EDT
Wed, May 17, 2017 - 02:00p to 03:42p EDT
Fri, Jun 16, 2017 - 09:00a to 10:42a EDT
Wed, Jun 28, 2017 - 10:00a to 11:42a EDT
Sat, Jul 08, 2017 - 02:00p to 03:42p EDT
Mon, Jul 17, 2017 - 11:00a to 12:42p EDT
Mon, Aug 14, 2017 - 01:00p to 02:42p EDT
Tue, Aug 29, 2017 - 07:00p to 08:42p EDT
Wed, Sep 27, 2017 - 10:00a to 11:42a EDT
Thu, Sep 28, 2017 - 04:00p to 05:42p EDT
Fri, Oct 06, 2017 - 12:00p to 01:42p EDT
Wed, Oct 18, 2017 - 02:00p to 03:42p EDT
Fri, Nov 10, 2017 - 09:00a to 10:42a EST
Wed, Nov 29, 2017 - 11:00a to 12:42p EST
Fri, Dec 01, 2017 - 01:00p to 02:42p EST
Sat, Dec 02, 2017 - 09:00a to 10:42a EST

Additional Info

Basic Course Information

Prerequisites None
Advanced Preparation None
Yellow Book

No


Course Developer David Cotton

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 addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org
Instructional Delivery Method Group Internet Based
Course Registration Requirements Online Registration
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. 


Refund/Cancellation Policy Please contact the ACPEN help desk - (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

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Total Reviews: 42

Comments

Wendy C - ,

"Good information."

Kathy D - Portland, Michigan

"David Cotton was excellant. Benford's Law was extremely interesting and his explanation was complete."

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