Audit Analytics in the Financial Industry

Jun Dai
Southwestern University of Finance and Economics, China

Miklos A. Vasarhelyi
Rutgers Business School, USA

Ann F. Medinets
Rutgers Business School, USA

Product Details
28 Oct 2019
Emerald Publishing Limited
248 pages - 152 x 229mm
Rutgers Studies in Accounting Analytics


In Audit Analytics in the Financial Industry, editors Jun Dai, Miklos A. Vasarhelyi and Ann F. Medinets bring together a cast of expert contributors to explore ways to integrate Audit Analytics techniques into existing audit programs for the financial industry. 

Separated into six parts, the contributors take a variety of approaches to this exploration. In Part One, the contributors present two articles illustrating the process of applying Audit Analytics to solving audit problems. Part Two contains four studies that use various Audit Analytics techniques to discover fraud risks and potential frauds in the credit card sector. In Part Three, the chapter focus on the insurance sector and show the application of clustering techniques in auditing. Part Four includes two chapters on how to employ Audit Analytics in the transitory system for fraud/anomaly detection. Finally, Parts Five and Six illustrate the use of Audit Analytics to assess risk in the lawsuit and payment processes.  

For students, researchers, and professionals in the accounting sector, this is an unmissable read exploring the latest research in Audit Analytics.
Introduction: What is Audit Analytics?; Jun Dai, Miklos A. Vasarhelyi, and Ann F. Medinets 
Part One: Audit Analytics Procedures 
1. An Application of Exploratory Data Analysis in Auditing: Credit Card Retention Case; Qi Lui 
2. Audit Analytics: A Field Study of Credit Card After-Sale Service Problem Detection at a Major Bank; Jun Dai, Paul Byrnes, Qi Liu, and Miklos A. Vasarhelyi 
Part Two: Analytics in Credit Card Audits 
3. Automated Clustering: From Concept to Reality; Paul Byrnes 
4. A Multi-Faceted Outlier Detection Scheme for Use in Clustering; Paul Byrnes 
5. Are Customers Offered Appropriate Discounts? An Exploratory Study of Using Clustering Techniques in Internal Auditing; Jun Dai, Paul Byrnes, and Miklos A. Vasarhelyi 
6. Predicting Credit Card Delinquency: An Application of the Decision Tree Technique; Ting Sun and Miklos A. Vasarhelyi 
Part Three: Analytics in Insurance Audits 
7. Cluster Analysis for Anomaly Detection in Accounting; Sutapat Thiprungsri 
8. Multi-Dimensional Approaches to Anomaly Detection: A Study of Insurance Claims; Basma Moharram 
Part Four: Audit Analytics in Transitory Systems 
9. Development of an Anomaly Detection Model for a Bank's Transitory Account System; Yongbum Kim 
10. Development of an Anomaly Detection Model for an Insurance Company's Wire Transfer System; Yongbum Kim 
Part Five: Audit Analytics for Lawsuit Risk Detection 
11. A Legal Risk Prediction Model for Credit Cards; Feiqi Huang, Qi Liu, and Miklos A. Vasarhelyi 
Part Six: Audit Analytics in the Payment Process 
12. Analyzing Payment Data and Its Process: A Bank Case; Karine Chandia and Miklos A. Vasarhelyi
Jun Dai is an Assistant Professor at Southwestern University of Finance and Economics, China. She received her Ph.D. from Rutgers Business School in 2017, and she researches accounting information systems and continuous auditing. 
Miklos A. Vasarhelyi is the KPMG Distinguished Professor of Accounting Information Systems at Rutgers University, and serves as Director of the Rutgers Accounting Research Center (RARC) and Continuous Auditing & Reporting Lab (CAR Lab). 
Ann F. Medinets is an Associate Professor of Professional Practice at Rutgers University. Her paper "Say-on-Pay: Is Anybody Listening?" with Stephani Mason and Dan Palmon in the Multinational Finance Journal was featured on Harvard's Forum on Corporate Governance and Financial Regulation, and is among the top 10% of SSRN downloads.

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