The Use of Structured Data and Information Systems This article provides a hypothetical case study that walks readers through the process of a financial investigation in which the data extraction, analysis, and forensic reconciliation are integrated seamlessly by accounting and data experts who understand both sides of an investigation. Introduction Structured data and information systems are increasingly utilized to improve the efficiency and efficacy of financial investigations. Forensic accountants and investigation experts have more frequently engaged skilled analysts to perform certain data extraction and complex technical analyses. However, certain matters force a bifurcated approach where the analytics team is left…
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Utilizing Data Analytics to Investigate Ponzi Schemes This article examines how data analytics combined with other forensic accounting tools can help investigators uncover how investors in both traditional and newer types of Ponzi schemes were victimized, and how data can be compiled to locate stolen assets and create an analytical report that aids regulators and in legal proceedings focused on recovering funds or determining investor losses. Introduction It is widely recognized that deceiving investors is the bread-and-butter of a Ponzi scheme.[1] However, the term “investors” often conjures images of Shark Tank or Wall Street, and this is far from the…
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A Meandering in the Mind(s) of ChatGPT (Part II of III) This is the second article of a three-part series. In the first article, the author introduced a brief history of her own word processing software use and preferences then used several models within an AI Tool, ChatGPT, to generate an article with a single prompt, “The article must be between 4750 and 5250 words, not including subtitles. The article must … Read Part I here. What You Missed in Part I I introduced a brief history of my own word processing software use and preferences then used several models…
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A Meandering in the Mind(s) of ChatGPT (Part I of III) This series chronicles the use of an AI generation tool to generate content. Most of the uses the author has heard of from colleagues rely on an AI tool to generate content in response to various questions. Through the series the author shares iterations of an article that relied on AI and provides examples to show how a story can change using AI. Some Perspective I do not use AI assistance in anything. In fact, I do not use autofill, autocorrect, grammar suggestions, or even spellcheck. I do not…
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Get Clients to Count on Your Accounting Is it the valuation of a small privately held company with three employees? Or a large multi-national with employees in the thousands? Perhaps it is reviewing assets in a highly contested divorce. One way or another, you are trying to reach a decision, an opinion, or a conclusion from the data in front of you. Using big data, you must compose a story and present the data in a manner that is compelling and memorable. This article discusses the importance of embracing big data and showcasing one’s expertise. Is it the valuation of…