Proactive fraud detection in enterprise systems
Author(s)
Singh, Kishore
Best, Peter
Mula, Joseph
Griffith University Author(s)
Year published
2011
Metadata
Show full item recordAbstract
Fraud is a multi-billion dollar industry that continues to grow annually. Many organisations are poorly prepared to prevent and detect fraud. Fraud detection strategies are intended to quickly and efficiently identify fraudulent activities that have circumvented preventative measures so that an organisation can take appropriate corrective action. This paper investigates the use of enterprise system audit trails to support fraud detection. A framework for analysing these audit trails for potential fraud is developed. Key components of the framework include; defining the data requirements for fraud detection; and creating a ...
View more >Fraud is a multi-billion dollar industry that continues to grow annually. Many organisations are poorly prepared to prevent and detect fraud. Fraud detection strategies are intended to quickly and efficiently identify fraudulent activities that have circumvented preventative measures so that an organisation can take appropriate corrective action. This paper investigates the use of enterprise system audit trails to support fraud detection. A framework for analysing these audit trails for potential fraud is developed. Key components of the framework include; defining the data requirements for fraud detection; and creating a catalogue of fraud symptoms. SAP, a market leading enterprise system is examined. We propose a MCL-based approach for proactive fraud detection that entails periodic extraction and analysis of SAP accounting audit trails for potential fraud. The paper emphasises the importance of visual presentation of information as it is this characteristic that enables an auditor to effectively and efficiently find trends, correlations, and identify patterns of activity that may lead to important conclusions regarding potentially fraudulent activities.
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View more >Fraud is a multi-billion dollar industry that continues to grow annually. Many organisations are poorly prepared to prevent and detect fraud. Fraud detection strategies are intended to quickly and efficiently identify fraudulent activities that have circumvented preventative measures so that an organisation can take appropriate corrective action. This paper investigates the use of enterprise system audit trails to support fraud detection. A framework for analysing these audit trails for potential fraud is developed. Key components of the framework include; defining the data requirements for fraud detection; and creating a catalogue of fraud symptoms. SAP, a market leading enterprise system is examined. We propose a MCL-based approach for proactive fraud detection that entails periodic extraction and analysis of SAP accounting audit trails for potential fraud. The paper emphasises the importance of visual presentation of information as it is this characteristic that enables an auditor to effectively and efficiently find trends, correlations, and identify patterns of activity that may lead to important conclusions regarding potentially fraudulent activities.
View less >
Conference Title
2nd International Conference on Business and Information: Steering Excellence of Business Knowledge (ICBI 2011)
Publisher URI
Subject
Accounting, Auditing and Accountability not elsewhere classified