Suspicious Journal Entries By Keywords

  • Monday, September 7, 2099
    8:00 am - 5:00 pm

Identify any suspicious journal entry (JE) descriptions that may indicate unauthorized or invalid entries.

  1. Obtain a dump of all the JEs from within the audit period you want to review
  • Get it from someone in IT responsible for your ERP or core financial system (getting the data should be relatively easy for them to do!)
  • Get it in a delimited text file format for easy importing.
  • Include all key fields, but in particular things like: Description, Date, Amount, Employee ID, Account, etc.
  • Import the JE data into AN using the import wizard.
  • Filter on the JE description field for “hot button” words that might indicate fraudulent, brain-dead, or otherwise suspicious entries.
    • Keywords for suspicious entries may include phrases such as: “Per [Name]”, “to correct”, “adjust”, “refund”, “error”, etc.
  • Assess results for potentially suspicious entries and review identified exceptions with management. You should definitely find some fun entries in any reasonably sized organization. Listen carefully in the discussion. You will certainly identify either errors, fraud, or (at least) the next thing you should have a look at!
  • Get creative! Try to think of keywords that are specific to your organization.
  • Consider further refining the results by identifying suspicious descriptions based on the accounts they are being posted to… for example: “land” or “building” showing up in the description field for a short-term asset account.
  • Refine the results by accounts for a more thorough investigation.
  • Description fields may include:
    • Document Header Text
    • Text
    • Reference
    • Assignment
  • Use the many-to-many JOIN command to match words from your table of keywords to your JE descriptions.
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Monday, August 8, 2016 In: Comments (None)