Webclass 63: Should you be using data analytics for risk assessments?

Q1. Which is one of the top 10 reasons for using data analytics for risk assessments?

Suspicious transactions that merit review/ spot audit

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Helping to provide supporting documentation

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Q2. Does using data analytics for risk assessments give us insights into far away entities for which we don’t have the budget to visit?

Yes

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No

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Q3. Does using data analytics for risk assessments help us to identify unusual trends that could indicate a future issue?

Yes

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No

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Q4. Why would we want to import the data incrementally?

Because it will be too heavy for IT to import the entire last two years or so of data every month

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Because then we can see issues in real-time

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Q5. Which fields make up the document flow for P2P?

The purchasing document number, the material document number the accounting document number relating to the invoice and the accounting document number relating to the payment.

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The PO date, the GR date, the invoice date and the payment date

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Q6. What does Correlation do?

Flags document flows for each test

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Helps us to see the total value of a test result

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Q7. How might we create a scoring?

Based on the value or the % value that is found for each test

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Based on the number of tests that a supplier is found in

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Q8. What is the problem with considering tests on their own?

One particular test result does not necessary indicate a problem

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If a transaction is identified in a test it must be audited

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Q9. Why should we consider the value of the result that is found by a test?

Because if there is a high value for the transaction then the risk is also higher

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Because if the value is high then the transaction is unlikely to be of a high-risk factor

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Q10. What is screening?

Running a data set through a large number of tests and flagging transactions or suppliers when they are picked up by the results of those tests

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Checking a transaction for fraud

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Q11. What type of noise do we want to avoid when screening?

False positives

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Results that rather relate to fraud

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Webclass 63: Should you be using data analytics for risk assessments?

Webclass 63: Should you be using data analytics for risk assessments?

admin June 9, 2026

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