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More companies adopting forensic data analytics

Jaclyn Jaeger | March 6, 2018

Financial executives, internal auditors, and compliance and risk teams are getting a whole lot savvier about how to reduce enterprise-wide risks these days, thanks in large part to forensic data analytics.

Collecting and analyzing data to reduce compliance, financial, and fraud risks is not a new concept, but historically it has been limited by archaic and time-consuming manual processes. That’s where advances in forensic data analytics—such as artificial intelligence, machine learning, and robotic process automation—is changing the face of compliance, risk, and internal audit capabilities today.

In simple terms, forensic data analytics is the collection and intelligent analysis of all the deep oceans of structured and unstructured data that companies amass in their day-to-day operations. When overlaid with human intelligence, such technologies and techniques help compliance, risk, and internal audit executives obtain meaningful insights to better prevent, detect, and...

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