Proactive fraud detection in enterprise systems

Singh, Kishore and Best, Peter and Mula, Joseph M. (2011) Proactive fraud detection in enterprise systems. In: 2nd International Conference on Business and Information: Steering Excellence of Business Knowledge (ICBI 2011), 20 Oct 2011, Kelaniya, Sri Lanka.

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Fraud is a multi-billion dollar industry that continues to grow annually. Many organisations are poorly prepared to prevent and detect fraud. Fraud detection strategies are intended to quickly and efficiently identify fraudulent activities that have circumvented preventative measures so that an organisation can take appropriate corrective action. This paper investigates the use of enterprise system audit trails to support fraud detection. A framework for analysing these audit trails for potential fraud is developed. Key components of the framework include; defining the data requirements for fraud detection; and creating a catalogue of fraud symptoms. SAP, a market leading enterprise system is examined. We propose a MCL-based approach for proactive fraud detection that entails periodic extraction and analysis of SAP accounting audit trails for potential fraud. The paper
emphasises the importance of visual presentation of information as it is this characteristic that enables an auditor to effectively and efficiently find trends, correlations, and identify patterns of activity that may lead to important conclusions regarding potentially fraudulent activities.

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Item Type: Conference or Workshop Item (Commonwealth Reporting Category E) (Paper)
Refereed: Yes
Item Status: Live Archive
Additional Information: No evidence of copyright restrictions, or refereed status.
Faculty/School / Institute/Centre: Historic - Faculty of Business and Law - School of Accounting, Economics and Finance (1 Jan 2011 - 30 Jun 2013)
Faculty/School / Institute/Centre: Historic - Faculty of Business and Law - School of Accounting, Economics and Finance (1 Jan 2011 - 30 Jun 2013)
Date Deposited: 14 Sep 2012 02:26
Last Modified: 20 Sep 2017 05:35
Uncontrolled Keywords: fraud detection, enterprise system, continuous monitoring, audit trail
Fields of Research (2008): 15 Commerce, Management, Tourism and Services > 1501 Accounting, Auditing and Accountability > 150199 Accounting, Auditing and Accountability not elsewhere classified
Fields of Research (2020): 35 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 3501 Accounting, auditing and accountability > 350199 Accounting, auditing and accountability not elsewhere classified
Socio-Economic Objectives (2008): B Economic Development > 91 Economic Framework > 9104 Management and Productivity > 910499 Management and Productivity not elsewhere classified

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