Questions on Data Analytics and Fraud

fraud

The Association of Certified Fraud Examiners has just released a new benchmarking report on anti-fraud technology, with some interesting findings about fraud detection that make me wonder whether compliance folks are managing internal controls as efficiently as we might. ACFE published its 2024 Anti-Fraud Technology Benchmarking Report on Tuesday, based on a survey of nearly…

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A $12M Lesson on Data Analytics

The Consumer Financial Protection Bureau has fined Bank of America $12 million for failing to supply accurate data about home mortgage applications, in a case that provides some fascinating lessons about the importance of data analytics and auditing your compliance program. The CFPB announced its enforcement action on Tuesday, and at first glance the case…

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Tips for Compliance and Data Analytics

data analytics

The other day I had the great fortune to moderate a webinar on data analytics in compliance programs with Kirsten Liston, founder and CEO of Rethink Compliance. We had a great time and Liston certainly knows her stuff on data analytics, so I took lots of notes. Let’s review the major themes that arose from…

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Pointers on Data Analytics

analytics

The other day I had the good fortune to moderate a webinar on data analytics in the compliance function. Considering the pressure corporate compliance programs are now under to develop strong analytics capability, let’s review some of the main points and themes that emerged from the discussion. For starters, compliance officers should take another look…

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PCAOB Stands Pat on Data Analytics

pcaob

The PCAOB released an update Thursday on its thinking about how to use data analytics and related technologies in financial audits, and it seems that the regulator will maintain for now its belief that no new auditing standards to address technology are necessary. For several years now, the PCAOB has run a small task force…

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Some Vague Hints on Analytics, FCPA

DPAs

The Justice Department is stepping up its own use of data analytics to identify instances of corporate misconduct, and will boost its cooperation with overseas law enforcement to bring more anti-corruption cases as well, a senior department official said this week. The remarks came from Nicole Argentieri, acting assistant attorney general for the Criminal Division,…

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PCAOB Alert on Audits, External Data

pcaob

The PCAOB published fresh guidance last week about how auditors should handle evidence supplied by others to help the auditor assess financial statements, important performance or valuation metrics, and, well, all the other stuff that can go into an audit report these days.  The guidance is formally titled “Evaluating Relevance and Reliability of Audit Evidence…

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Making Compliance Analytics Work

analytics

Compliance officers spend more and more time these days thinking about data — how to collect it, how to study it, how to report it. So while I attended the Global Ethics Summit in New York this week (excellent event), I dropped into a panel discussion about how compliance officers can build more effective, data-driven…

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Talking Compliance Analytics at AB-InBev

analytics

We have another Radical Compliance podcast today, this time looking at data analytics and integration challenges at the largest beer brewer in the world: Anheuser-Busch InBev. For anyone considering more analytics in your compliance program (which should be all of you) this chat with Matt Galvin, vice president of ethics and compliance at AB-InBev, is…

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Audit, Compliance, and Data-Driven Behavior

internal audit

Last week I had a guest post on Navex Global’s blog exploring the future of the internal audit function, and how a more powerful internal audit function might help the ethics and compliance department in new ways. Today we have a practical example from Fidelity Investments, and the news that it has recently sacked more…

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