Automated Auditors to Chase Down Cheats
Data mining and mathematical tricks might catch a Madoff or an Enron earlier
How could Bernard Madoff’s hedge fund, a gigantic Ponzi scheme, have gone undetected for more than a decade? Well, partly because government auditors saw no sign of wrongdoing, even in separate audits.
Business researchers and auditing firms are now looking into technology that any auditor could use to ferret out cheats.