Forensic Audit and Data Analytics for Anticorruption Webinar

On March 17, 2022, an online webinar “Forensic Audit and Data Analytics for Anticorruption” was held with the participation of the representatives of the World Bank and the GAO Forensic Audits and Investigative Service Team, FAIS.

FAIS focuses on the identification and prevention of fraud, waste, and abuse across the federal government. In addition to auditors and analysts, this Team includes criminal investigators who conduct special inquiries and financial security assessments. FAIS also maintains FraudNet, an online system where federal employees, contractors, and members of the general public can report allegations of fraud, waste, abuse, or mismanagement of federal funds.

During the webinar experts of the GAO USA shared successful practices of the use of data analysis while conducting financial audit, including methods of Data Collection, Data Matching and Data Mining.

Among the key methods of obtaining and verifying the information used by the FAIS are Confidential Informants or Sources; Subpoenas and Warrants; Covert Testing; Establishment of New Data Sets and Data Development.

The speakers have demonstrated a number of ways to identify fraud risks by processing data arrays, as well as the options for visualizing results of the analysis conducted.