Chartered Accountants Journal of New Zealand 79(11), 24-27
ISSN / ISBN: 1172-9929
Abstract: ABSTRACT: Using Benford's Law, you can predict the initial digits of a non-random series of numbers with surprising accuracy. Benford's Law provides a powerful tool to check a large series of calculated totals for possible error, fraud, manipulative bias, processing inefficiency, or other anomalies. How to approach discrepancies in the results by using selective analysis of some of the first two digits is discussed. Investigation of divergence from Benford's Law almost always provides useful insights, particularly into an organization's process for producing data and the conditions affecting those processes. As such, it is a valuable tool for managers, analysts, and auditors
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Reference Type: Journal Article
Subject Area(s): Not specified