When a team of forensic accountants began sifting through refunds issued by
a national call center, something didn’t add up: There were too many fours
in the data. And it was up to the accountants to figure out why.
Until recently, such a subtle anomaly might have slipped by unnoticed. But
with employee fraud costing the country an estimated $300 billion a year,
forensic accountants are increasingly wielding mathematical weapons to
catch cheats.
“The future of forensic accounting lies in data analytics,” said Timothy
Hedley, a fraud expert
<http://www.amazon.com/Managing-Risk-Fraud-Misconduct-Environment/dp/0071621296>
at KPMG, the firm that did the call-center audit.
http://on.wsj.com/1CSm85thttp://on.wsj.com/1CSm85t+
--
Peterk
Dallas, Tx
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"The problems of our economy have occurred not as an outgrowth of
laissez-faire, unbridled competition.
They have occurred under the guidance of federal agencies, and under the
umbrella of federal regulations."
Senator Ted Kennedy, in defending trucking deregulation in 1978.
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