The role of a forensic auditor may be to identify suspicious transactions which may be fraudulent. Excel can be a useful tool to review a smaller dataset.
This Excel Zoom article shows users how to perform 5 simple forensic tests, including:
- Identify Duplicate Transactions
- Identify Rounded Transactions
- Find above average payments
- Identify a gap in transactions
- Compare highest to 2nd highest transaction
To see the article, go to: https://excelzoom.com/five-ways-performing-forensic-audit-using-ms-excel/
The AICPA issued new standards for those that perform forensic accounting services engagements.
The standard defines forensic services as those “provided for investigation or litigation”.
To read more about the release of standards, go to: https://www.journalofaccountancy.com/news/2019/jul/forensic-accounting-aicpa-standards-201921580.html
To review the Statement on Standards for Forensic Services No. 1, go to: https://www.aicpa.org/content/dam/aicpa/interestareas/forensicandvaluation/resources/standards/downloadabledocuments/ssfs-no-1.pdf