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ActiveData for Excel

ActiveData for Excel. An audit Software. Part I :Excel - Pros and Cons. Power of Excel as an Fraud Detection Software.

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ActiveData for Excel

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  1. ActiveData for Excel An audit Software

  2. Part I :Excel - Pros and Cons

  3. Power of Excel as an Fraud Detection Software Microsoft Excel is a ubiquitous tool and it has achieved this status by allowing a user to ease into data analysis. Rather than require database training or other certifications, Microsoft Excel allows a user with any Windows experience to pick up and get started. Once started, users find spreadsheets easy to navigate and flexible enough to meet their particular needs. For example, a user may have a five-line spreadsheet to total some numbers or they may maintain their sales invoices. Either way, Excel can normally contract or expand to the job.

  4. Power of Excel as an Fraud Detection Software For accountants and Dors, Excel has provided them a comfortable environment to work within. And for many data analysis tasks, Excel can easily do the job. Excel allows users to Sort, Subtotal, Filter, and Merge data. They can create calculated fields, as well as, perform statistical analysis such as regression. For all of the above reasons and more, Microsoft Excel has become an industry standard in managing and analyzing organizational data.

  5. Limitations of Microsoft Excel as an Fraud Detection Software • Although Microsoft Excel has many powerful features and can take on many of the features of fraud detection software, it has its own set of limitations that are presented below: • Can only process 1 Million records (Excel 2007) or 65,536 records (Excel 2003 and below) of data which may be too small for some organizational databases. • Does not document the fraud specialist’s work in easy to access logs for later reference and storage (ActiveData for Excel helps with this) • Allows data to be changed in the spreadsheet.

  6. Limitations of Microsoft Excel as an Fraud Detection Software • Can only read a small subset of the complete types of data files available in digital format. For example, EBCIDIC files stored in IBM mainframes would need to be converted for use in Excel. • Has difficulty in performing some data management and analysis tests such as relating tables. Although it can be accomplished, it is an onerous task. • Does not have functionality specifically tailored to the auditor. For example, a sample can be calculated in just a couple of clicks with minimal training in specifically designed fraud detection software. In Excel, it can be done, but it does take some effort and guidance.

  7. How ActiveData for Excel Compensates for Excel’s Limitations While ActiveData for Excel does not compensate for all limitations, the below table outlines where it does compensate, as well as, supporting explanations for when it does not:

  8. How Key Data Analysis Tasks Are Met With Active Data for Excel? The table below compares two popular fraud detection-focused data analysis products for their ―out of the box‖ functionality of with ActiveData for Excel. These features will be practically applied to a host of fraud detection settings later in this publication.

  9. * - Please note that this is standard functionality within Excel

  10. Part II ActiveData Application

  11. Presented by: Kevin Alfred R. Mayoralgo Hanna Mae M. Pantig Aileen D. Bagtas Louie Arth P. Reyes Fatima L. Legaspi Renz Jayson S. Nava

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