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Case study
Fraud in the Spotlight
Financial crime can be hard to detect, but the power of analytics is helping the cause.
Spotlight, part of our Distinctive Audit offering, is a bespoke analytics tool that allows audit teams to look for unusual trends and anomalies within large data sets. Using Spotlight enabled our audit team to help expose a sizeable fraud being committed by a senior employee of one of our clients. The tool identified an unusual data pattern - which random data sampling techniques would have likely missed - prompting further investigation.
Our contribution was praised by the client, with the CFO noting this was a real step-change in the value provided by the statutory audit. As a result, the client has requested that for the 2014 audit, we extend our use of analytics to cover additional systems and data fields. With Distinctive Audit and Spotlight, Deloitte is at the forefront of the evolution in the statutory audit.
Spotlight figures so far:
- Nearly 250 clients are up and running on new analytics software
- Close to 224 million journals have been analysed
- 1 billion client records processed
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