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Amanda L. Perkins, CPA Senior Auditor University of Arizona.

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Steal These Tips! Audit Techniques for Accountants Amanda L. Perkins, CPA Senior Auditor University of Arizona
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Page 1: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

Steal These Tips!Audit Techniques for

AccountantsAmanda L. Perkins, CPA

Senior AuditorUniversity of Arizona

Page 2: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

Senior Auditor in Internal Audit at the University of Arizona

Previously with the Arizona Office of the Auditor General

Page 3: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

Recent Frauds◦ Fire District◦ High School◦ Children’s Hospital

What could have been done?

Audit Techniques◦ Evaluating

Procedures◦ Using Data◦ Seeking Outside

Sources

Agenda

Page 4: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

Understand 3 audit techniques and how they could be applied to non-audit duties.

Identify controls that may have prevented or detected 3 real frauds.

Goals of the session

Page 5: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

Springfield, IllinoisRecent fraud hub?

Page 6: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

Chatham Fire Protection District

Page 7: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

Southeast High School

Page 8: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

St. John’s Children’s Hospital

Page 9: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

Audit Techniques

Page 10: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

Explain to an outsider◦ Use real words◦ Training new employees

What happens before and after my piece of this process?

If I were going to steal……

Evaluating Procedures

Page 11: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

Is there someone we couldn’t do without? Am I getting source documents or only data

prepared by someone else based on source documents?

Might identify a more efficient way to do something or a stronger control that could be implemented

Evaluating Procedures

Page 12: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

What data is available in what you already do?

How accessible is your data? Maybe you get a report on paper that could

come as a text or Excel file instead.

Using Data

Page 13: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

The simple “Sort” tool in Excel Microsoft Access Improving your Excel and Access skills:

◦ Employer offerings◦ YouTube and online forums

Using Data

Page 14: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

What do I expect of this data and what is unexpected?

Common vendors Coding errors in repeat payments Overtime variances Unusual system access profiles

Using Data

Page 15: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

Is there data I wish I had? May identify another way to improve your

procedures.

Using Data

Page 16: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

Oh, the magic of the Internet Vendors

◦ Arizona Corporation Commission◦ 990 filings from non-profits◦ Company websites◦ Maps of addresses

Peer websites◦ Is our policy similar to another organizations?◦ Compliance with state or federal regulations◦ Human resources procedures

Outside Sources

Page 17: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

Could you have prevented or detected the fraud?

Page 18: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

Chatham Fire Protection District

Page 19: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

Source documents vs. employee-prepared reports

Using Data◦ Common vendors◦ Object codes or other unexpected transactions

Evaluating procedures- may have relied too much on one person

Chatham Fire District

Page 20: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

Southeast High School

Page 21: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

Source documents Evaluating procedures

◦ Relying too much on one person◦ Student clubs not aware of good controls on their

side Peer websites

◦ Were the existing background checks enough?

Southeast High School

Page 22: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

St. John’s Children’s Hospital

Page 23: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

No court records yet But we can guess what might have

happened

St. John’s Children’s Hospital

Page 24: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

Questions?

Page 25: Amanda L. Perkins, CPA Senior Auditor University of Arizona.

Amanda Perkins [email protected]

Thank you!


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