Statistical Profile

a) Do a Statistical Profile (Descriptive Statistics summary) on the Invoice Amount field.

b) Summarize (total) the Invoice Amount field by Vendor Name. Who are the 3 top vendors?

c) Summarize (total) the Invoice Amount field by Product. What is the top product?

d) Total the invoice amounts by month and plot a graph for the year. Do you observe any trend?

e) Perform a Benford analysis on the Quantity field and the Invoice Amount field. A spreadsheet called BenfordsLaw.xlsx is provided in Doc Sharing. Are the results reasonable?

f) Identify any invoices that have incorrect invoice totals. Does this indicate potential fraud?

g) Examine the invoice dates. Do you find any errors?

2) Explain the four steps of the risk-based audit approach, and discuss how they apply to the overall security of a company.