?óta Signal Analytics

From the latest Public Company Accounting Oversight Board (PCAOB) Spotlight Report and 2023 inspections prioritized on the risks of fraud: "Auditors with strong data and analytical skills, which may be accompanied by technology-driven tools appropriate for the public company’s environment, are important to effectively perform fraud procedures – which should never be taken as routine requirements that need to be checked complete on a list" Yes they are…and no it shouldn't be a checklist. Indeed, the checklist of talking to company management and stakeholders about their perspectives on fraud risk, reviewing procedures and flows for ICFR, even clueing in on NOCLAR issues is all well and good, but arguably not close to enough –?especially when the very purpose of the audit is to counter potential management override and domination of those very controls. Instead, leveraging data analytics insights at the planning of an audit, that can readily expose the hidden risks of misstatement and concealing efforts of accounting fraud, has to be a better way. Empowering the required professional skepticism of auditors regardless of prior experience in fraud, with objective, quantified insights to be tested, explained and accounted for in traditional audit activities – before the audit fieldwork and informing planning. Just like the techniques of exposing a latent fingerprint, our?Pressure Risk ?óta?scores with early warning of susceptibility to fraud, together with?Asset Revenue Overstatement?risk scores detailed by accounting fraud scheme, highlight to auditors those tell-tale signs of fraud risk that continue to be unnecessarily elusive at audit time, but all too obvious when a public company implodes, or form embarrassing misses at inspection time. Knowing where to look and where to look harder is critical in designing audit procedures for accounting fraud. Built on the unique skills and techniques of specialized forensic accounting, accompanied with decades of experience working complex corporate fraud investigations, auditors using our alt-data SaaS can readily assess risk by one company, an industry, the whole exchange, or even their own customized portfolios across ~90k companies, 100 countries and 170 exchanges all the way back to the 1980's; leaving the checklist and the feature spot in Public Company Accounting Oversight Board (PCAOB) inspections to the next auditor and their firm. Alexis C. Bell, MS, CFE Paul D.

Thank you to fellow SMARTstart Pasco Entrepreneurship Programs member Cassandra C. G. and Career Focus Inc for inviting our Paul D. to come and speak to their recent Career Camp students, sharing insights on the exciting career opportunities in risk management consulting and more! Difficult Roads Lead to Beautiful Destinations #SpringBreakCareerCamp #EarnWhileYouLearn #CareerFocus

Thanks to Amanda Iacone for inviting our Paul D. to offer his perspectives in her coverage of the recent collapse of convictions against those involved in the KPMG PCAOB inspection cheating scandal. #accountingfraud #businessethics https://lnkd.in/ekQR_bYV