Forensic Accounting Data

Forensic accounting data
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At Nomad Data we help you find the right dataset to address these types of needs and more. Sign up today and describe your business use case and you'll be connected with data vendors from our nearly 3000 partners who can address your exact need.
Forensic accounting is a special type of accounting focused on uncovering fraud and other financial criminal activity. It requires both exceptional accounting expertise and the analysis of large amounts of data to reveal red flags and suspicious activity. With datasets such as accounting data, businesses can get better insights and produce more accurate results when looking into financial data.

Business professionals are increasingly using data and datasets such as accounting data to gain better insights into forensic accounting. By collecting data from various channels and sources, they’re more prepared to properly analyze financial information. This is often referred to as “big data forensics”, where large amounts of data are used to uncover hidden fraudulent activities.

Accounting data can be used to gather deeper insights into the financial records of a company. By looking at balance sheets, business professionals can point out red flags such as too much debt. Additionally, data can be used to track the movement of funds, meaning an individual can identify the source of the funds and track them for suspicious activities. Accounting data can also be used to identify potential discrepancies between financial statements sent to stakeholders and revealed by an audit. By understanding how the data works, accountants are better equipped to spot potential problems.

Other types of data can also provide useful insights for forensic accounting. Social media data, for instance, can be beneficial in uncovering criminal activities. Many criminals will try to hide their activity by using coded conversations and other clues that can be discovered through social media analysis. By gathering data from social media, accountants can identify patterns that indicate the presence of a criminal activity.

Bank data can also provide valuable insight into a company’s finances. Bank data can be used to look into suspicious account activity, identify unusual deposits and other questionable transactions. By properly analyzing bank data, accountants can detect fraud and possibly uncover a criminal’s source of funds.

In sum, datasets such as accounting data can be used to get better insights on forensic accounting. By using large datasets, businesses can properly analyze financial records, spot red flags and identify potential sources of fraud. With the right dataset and analysis, businesses are more capable of uncovering fraud and other criminal activity. In the end, proper analysis of data can go a long way in helping businesses protect their financial integrity.
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