A Robust Newcomb-Benford Account Screening Profiler: An Audit Decision Support System

Frank Heilig and Edward J. Lusk

International Journal of Financial Research, 2017, vol. 8, issue 3, 27-39

Abstract: The best practices execution of the audit is conditioned by the facility with which Decision Support Systems [DSS] can be created using simple Excel? programming tools and functionalities. Such DSS can aid in the exclusive binary triage of the many of the client¡¯s accounts each of which typically has tens of thousands of items into: {Accounts that may warrant Extended Procedures Testing [EPT]} or {Accounts that may not warrant EPT}. We use the Newcomb-Benford first-digit-profile as a triage platform to screen client accounts into the above mentioned exclusive sets. We call this DSS: The Newcomb-Benford Robust Screening:DSS [NBRS:DSS]. We report on the details of its development & vetting, and illustrate its functionalities using one of the historical Benford Datasets. The NBRS:DSS employs four account screening platforms each of which has been reported in the literature. The NBRS:DSS is available from the authors free as a download without restrictions to its use.

Keywords: big-data; FPE screening jeopardy (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:jfr:ijfr11:v:8:y:2017:i:3:p:27-39

DOI: 10.5430/ijfr.v8n3p27

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