Data Mining

As technology has grown more sophisticated, those engaging in fraudulent activity have greater opportunities to circumvent even the most robust financial control systems. But UHY Advisors Forensic, Litigation & Valuation Service professionals can deploy the most sophisticated tools and processes to help ascertain if fraud is being perpetrated through an exhaustive electronic review of the general ledger, inventory, journal entries, and accounts payable or accounts receivable subledgers. Our exclusive data mining process and analytical techniques can identify irregularities and anomalies that have previously gone undetected. 

Data mining is an important anti-corruption investigatory tool used when evidence exists of financial fraud, especially in cases where there is a large amount of data to be reviewed. Using the same disciplines we use to detect financial statement fraud, UHY Advisors anti-corruption professionals can:

  • Mine existing data to assess patterns which may indicate existing fraudulent or suspicious payments 
    • Our “computer-aided internal audit techniques” (CAATs) are designed to identify unusual or unexpected revenue relationships or transactions by analyzing electronic data in the detection process
    • This could range from duplicate payments to payments made to different names yet at the same addres
    • UHY Advisors uses existing tools and field-proven proprietary software to conduct this data analysis 

  • Create preventative tools to mitigate future fraud 
    • In conjunction with the compliance team, we develop tests that help identify risks of fraud
    • We are adept at establishing an electronic “fraud alarm”, an early-warning system linked to a company’s general ledger