Advanced Analytics

In this section, we discuss various analyses that are based on more advanced statistical analysis techniques.

Benford’s Law in Audit Practice: Identifying Irregular Number Patterns

ADVANCED

ow to use Benford’s Law to identify irregular number patterns in financial data, including a Python example and MAD test.

Isolation Forest: Detecting Anomalies Without Business Rules

A practical introduction to Isolation Forest for auditors. Learn how to identify unusual transactions and patterns in large audit datasets without predefined rules or fraud labels.

K-means clustering in auditing: clustering & outliers

Learn how K-means structure data. Group transactions, spot and understand when this machine-learning technique is appropriate in audit.