Forensic Data Analytics
Forensic Data Analytics
Data analytics, mass data analysis, big data, business intelligence, continuous control monitoring, process mining and predictive analytics are some of the hype and buzz words used in our current day-to-day business. Many companies have initiated projects in order to effectively use data mining tools. However, only few companies are effectively using data mining/analysis techniques and if used the main focus is on customer profiling and the companies’ product portfolio. Most data analytics initiatives have led to unexpected costs, no added value and a lot of frustration.
We live in a world with increasing ICT dependency, growing number of data and faster information requests. To help sifting through a companies structured data, IRS offers a wide range of Data Analytics services. With our data analytics methodology IRS strives to get unambiguous results supported by a transparent and pragmatic process.
How can we assist you:
The IRS specialist is able to determine the actual business activities based on the companies available structured data. Analysis on data integrity and mapping the deviation between actual activities and the companies handbook will support both the internal as external investigator in collecting facts as part of their (forensic) work.
The IRS specialist can support the risk management system by challenging internal controls and IT/application controls. In case of a control deficiency, the IRS specialist is able to quantify the risk exposure based on the companies structured data.
IRS can support an organisation in fraud detection controls to identify potential fraud activities. Based on the results of a Data & Process Mining analysis or a known fraud pattern the IRS specialist can assist an organisation in setting up a ‘red flag system’.
The IRS specialist can train the internal Risk Management, Compliance or Audit team members in performing their own data analysis, recognizing fraud signals and determining the impact on their business.