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Forensic data analytics services
Using data to target misconduct and enhance your control environment
Organizations are under increasing pressure to mitigate risks related to fraud, waste and abuse, and to test the efficacy of their corporate governance practices. Fortunately, companies maintain a critical asset in their ongoing efforts to battle prohibited behaviors—their existing data. Implementing effective forensic data analytics solutions can serve as a catalyst to identify high-risk relationships and prohibited behaviors in their infancy, conduct timely analyses, and implement protocols to minimize the risk of future misconduct.
In the ongoing battle against fraud, waste or abuse, early detection is critical. The sooner you can detect it, the sooner you can develop mitigation strategies. With decades of experience incorporating forensic data analytics into a broad range of investigations, RSM can help your organization accelerate efforts to mitigate a broad array of risks. The benefits are clear—you protect your operations and reputation, while minimizing regulatory exposure and complying with increasing local, international and industry compliance demands.
Forensic tools are foundational to your mitigation efforts. Many organizations are now required to do more with less, and technology applications are very productive in terms of the insight they can generate in a cost-effective and timely manner. RSM has the technical and forensic experience, and first-hand exposure to emerging applications, to understand and implement the right tools to discover and address any misconduct within your organization.
While traditional audit methodologies rely on statistical sampling to select transactions for follow-up testing, we transform your analytics strategy to look at the entirety of your data. This approach better identifies connections or unusual characteristics between disparate datasets that might indicate fraud or other prohibited behaviors, enabling you to efficiently target potential high-risk areas within your operations.
More specifically, our forensic data analytics solutions provide several direct benefits, including:
- Increasing audit effectiveness by automating testing of internal controls
- Increasing audit efficiency by surfacing transactions requiring further attention
- Allowing companies to “do more with less”
- Identifying opportunities for mitigating current gaps and weaknesses
- Identifying fraud schemes in their infancy and creating effective fraud deterrents
- Spotlighting wasteful practices and compliance failures across geographies
We utilize your data to provide insight and direction across each of your key business functions. For example, our protocols will flag anomalous patterns or gaps in the data that may be associated with fraud, waste and abuse, surfacing them for further investigation. In addition, we can take an even more comprehensive approach by comparing your data to public records to discover any inconsistencies or high-risk attributes in vendor or employee data.
Without an effective process and data analytics, misconduct can be difficult to detect and deter. However, RSM’s experienced forensic data analytics team can help you leverage data to increase the effectiveness of your prevention and compliance efforts. We help you implement a well-designed data analytics framework that improves existing business processes to take a more proactive approach to uncovering and addressing misconduct that may occur within your organization.