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Q: Auditing software that can find fruads ( Answered,   1 Comment )
Subject: Auditing software that can find fruads
Category: Business and Money > Accounting
Asked by: shaoul-ga
List Price: $100.00
Posted: 14 Nov 2005 05:19 PST
Expires: 14 Dec 2005 05:19 PST
Question ID: 592736
I need to find an audit SW that will have as input some DB and will
find frauds by searching through the DB for different actions made in
the accounting books.The actions to be looked for will be defined by
the SW with as many ways of fraud that are known.
Subject: Re: Auditing software that can find fruads
Answered By: pafalafa-ga on 14 Nov 2005 08:29 PST

Thanks for your question.

There are a wide variety of software product and data analysis
services available to assist the auditing process in the detection of
possible fraud.

The most widely used such application -- as determined by a survey of
auditors conducted by The Institute of Internal Auditors -- is known
as ACL:
"...Half of auditors worldwide favor ACL as the preferred software for
fraud detection and prevention, according to the most recent Institute
of Internal Auditors (IIA) software survey..."

Their actual software and data analysis products are described in more detail here:

--ACL Desktop/Network Edition 

--ACL Server Editions 

--Direct Link for SAP R/3 


Caseware IDEA is another widely used accounting product.  It is a
broad-based data management and analysis tool, with strong application
in fraud detection.

Here is a site of one of its US distributors:

...Audimation is the U.S. Business Partner with CaseWare IDEA, Inc.
IDEA is a powerful, easy to use, productivity tool that can quickly
and accurately read, manipulate, sample, or extract data files from
almost any source mainframe to PC.

...Our goal is to help clients add value to their organizations,
whether they are auditors, financial analysts, fraud investigators,
forensic accountants or computer audit specialists, by helping them do
more with less.

Here is some more explicit information from this company on fraud detection:
Fraud Detection Applications


In general, all accounting software can be said to be related to fraud
in one way or another, since one of the basic intents of accounting is
to keep the numbers the honest.  However, there are a fair number of
accounting-related products that specifically emphasize their role in

Some of the other key fraud-detection and audit analysis software
providers include:
Cluster Seven Ltd

...Businesses must now ensure, and demonstrably ensure, that they are
resilient against fraud and accidental error...ClusterSeven?s
enterprise spreadsheet management software provides a solution to
these challenges, bringing document visibility and auditability.

...Datactics improves data quality by applying the emerging
technologies of fuzzy logic and parallel processing to achieve greater
depth and accuracy in data matching...The result is...improved fraud
detection capability
Executive Audit

...Executive a proactive forensic auditing tool designed
specifically for executives, directors and audit committee members of
publicly traded companies. This highly sophisticated tool allows
executives without a CPA or extensive accounting background to spot
fraudulent, misstated or improper accounting in company financial
statements before they are filed with the SEC...

Realtime Software Package 
[they provide numerous packages, such as this one]:
...The General Ledger application is a powerful software product
providing customized, flexible control of financial reporting based on
transactional activity and journal entries.

[Other accounting-related software offered by this firm can be seen here]:

WizWhy...Applications...Issues critical predictions in many areas such
as...Fraud detection

Galileo and Magique are two separate software products that can work
alone, or in concert with one another, and can assist in fraud
detection.  Here is a description of both from one of the key
distributors of these products:
An Integrated Audit and Risk Management System

...Galileo -- a comprehensive system of fully-integrated audit
management, documentation and reporting system designed by Internal
Auditors for Internal Auditors.

...Magique is an intuitive, easy-to-use tool tailored to your
corporate governance methodology. It will continuously evaluate and
monitor risks and controls with ALERTS to your executives and
directors to empower them to take action. Magique is a dynamic web
based reporting system that integrates with the Galileo Audit
Management System to provide true risk-based auditing and control.


I trust this information fully answers your question.

However, please don't rate this answer until you have everything you
need.  If there's anything more I can do for you, just post a Request
for Clarification, and I'm happy to assist you further.


search strategy -- Google searches on a variety of combinations of the
following terms:

anti-fraud audit OR auditing software

fraud auditing software

caseware idea acl
Subject: Re: Auditing software that can find fruads
From: sarahseddon-ga on 30 Nov 2005 01:49 PST
Why not look at ComplyXL from Lyquidity (  They are
releasing (beginning December), a spreadsheet based compliance tool
that allows version recording for compliance control, adding versions,
comparison of versions, comparison of workbooks, plus versions are
saved within a workbook.  This ensures that the figures can be
justified, and any changes can be tracked.  It also has a read only
facility, as well as differing permissions for various members of
staff.  The free trial version will be up on the site beginning

Hope this helps.

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