The Accounting Research Institute (ARI) has recently purchased a software called Lavastorm Analytics information system(LA). Although LA is in itself represents an integrated data management system, ARI acquired the software to firstly manage its research data more effectively. Secondly, LA is
specifically used to facilitate its researchers and clients to maximize their competency in data mining typically for financial fraud detection purposes. Essentially, LA is a new, agile way to analyze, optimize and control data and processes. ARI organizes a three-day training workshop with the aim of learning more about the software and its potential use. LA supplier sends its experts Michael and Aaron to facilitate the training workshop. As in learning anything new, the learning curve among participants was initially slow. But later in the afternoon, participants were introduced with tools that can be used to identify potential red flags in financial fraud data. We learned the need to first and foremost to clean the data. Very often, financial fraud investigators are challenged with voluminous data that must be sorted out before any investigation could take place. Lavastorm is part of the facility and tool made available at the recently built Forensic Accounting and Polygraph Laboratory.
specifically used to facilitate its researchers and clients to maximize their competency in data mining typically for financial fraud detection purposes. Essentially, LA is a new, agile way to analyze, optimize and control data and processes. ARI organizes a three-day training workshop with the aim of learning more about the software and its potential use. LA supplier sends its experts Michael and Aaron to facilitate the training workshop. As in learning anything new, the learning curve among participants was initially slow. But later in the afternoon, participants were introduced with tools that can be used to identify potential red flags in financial fraud data. We learned the need to first and foremost to clean the data. Very often, financial fraud investigators are challenged with voluminous data that must be sorted out before any investigation could take place. Lavastorm is part of the facility and tool made available at the recently built Forensic Accounting and Polygraph Laboratory.
