Webclass 47: Quick win: how does analyzing the TB ensure we see obvious fraud cases?

Q1. How much were Deloitte and Grant Thornton fined by Parmalat Head-office for professional negligence (according to the presentation – there have been some claims since against)?

147M USD and 4.4M USD

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5M USD and 7M USD

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Q2. What did the Bonlat entity claim that was not true?

That it had 4.8BN USD in an account at Bank Of America

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That it had a subsidiary called Parmatour

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Q3. How much did Parmalat invest in Epicurus, based in the Cayman Islands?

620M USD

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143M USD

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Q4. What is Horizontal Analysis?

Comparison of this years figures to last year or to another entity

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Comparison of ratios between, for example Cost of Goods Sold to Revenues

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Q5. What is Vertical Analysis?

Comparison of ratios between, for example Cost of Goods Sold to Revenues

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Comparison of this years figures to last year or to another entity

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Q6. What should we do if we see unusual values on the Trial Balance?

Brainstorm, with the data analyst and the audit manager/ financial auditors, what the cause could be, list out audit questions and then plan the audit around these questions

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Put the information into the audit report and confirm the findings during the fieldwork, by requesting supporting documentation and through corroborative enquiry

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Q7. What were the examples of vertical analysis given in the presentation?

Accounts receivable over revenue; Accounts receivable over payables; AP credits over expenses; Revnue over expenses

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Day Sales Outstanding; Accounts Receivable versus Bank Out; Revenue compared to Accounts Payable; Accounts Payable versus Revenues

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Q8. What is the two-step process for correctly using Trial Balance + data analytics?

Step 1/ Remote analysis of Trial Balance and then Journal entries; Step 2/ On-site confirmation of the cases identified

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Step 1/ Remote analysis of Trial Balance; Step 2/ On-site corroborative enquiry

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Q9. What are the ratios that are recommended by the ACFE?

Current assets/ current liabilities; Receivables turnover; Profit margin;

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Accounts receivable over revenue; Accounts receivable over payables; AP credits over expenses; Revenue over expenses

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Q10. What is the difference between GLT0 and FAGLFLEXT?

GLT0 is the traditional Trial Balance table in SAP, whereas FAGLFLEXT is the updated Trial Balance that shows also the volume movements from document splitting

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FAGLFLEXT is the traditional Trial Balance table in SAP, whereas GLT0 is the updated Trial Balance that shows also the volume movements from document splitting

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Webclass 47: Quick win: how does analyzing the TB ensure we see obvious fraud cases?

Webclass 47: Quick win: how does analyzing the TB ensure we see obvious fraud cases?

admin June 9, 2026

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