Forensic analysis is a method for collecting and analyzing cash data by using formula and statistical techniques to reconstruct, detect or support claims of cash fraud or to detect accounting errors. Forensic analysis helps accountant or auditor to go further investigation on error or fraud by using several investigation techniques. Below are examples of forensic analytics that can be applied in excel sheets or access.
1) Reasonableness Test
2) Correlation Test
3) Number Duplication Test
4) Benford’s Law Test
5) Histogram Analysis
6) Trends and Time-Series Analysis
7) Comparison of current and prior period data