The Analysis of Benford's Law Ability to Identify and Predict Financial Fraud Detection

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HASHEMI SEYYED ABBAS; Hriri Amir Sina

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Journal: THE IRANIAN ACCOUNTING AND AUDITING REVIEW Year:2017 | Volume:24 | Issue:2 Page(s): 283-302

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Information Journal Paper

Title

The Analysis of Benford's Law Ability to Identify and Predict Financial Fraud Detection

Author(s)

HASHEMI SEYYED ABBAS | Hriri Amir Sina | Issue Writer Certificate

Keywords

Benford's lawQ1

Divergence from Benford's lawQ1

Financial statement fraudQ1

Financial statement manipulationQ1

Predict detection fraudQ1

Abstract

The main objective of this study is to identify and predict detection financial fraud by using compliance and deviation degree of financial statements from Benford's law. In this regard, data of 98 companies listed on the Tehran Stock Exchange in the period 2006-2015 (980 View), are studied. To achieve the research objectives, three hypotheses are considered and the linear multiple regression and logit model are used. The first hypothesis test results show that distribution of financial statement items follow Benford's law. In other words, this law can be used to investigate irregularities. According to the results of the second hypothesis, top financial statements deviation from Benford's law represents a financial fraud. The results of the third hypothesis indicates that deviation from Benford's law in fraud detection year is reduced compared to previous years. In fact, managers inability in repeating the manipulation of digits in fraud detection year, reduces the financial statements deviation from Benford's law than what was in previous years.

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APA: Copy

HASHEMI, SEYYED ABBAS, & Hriri, Amir Sina. (2017). The Analysis of Benford's Law Ability to Identify and Predict Financial Fraud Detection. THE IRANIAN ACCOUNTING AND AUDITING REVIEW, 24(2 ), 283-302. SID. https://sid.ir/paper/8065/en

Vancouver: Copy

HASHEMI SEYYED ABBAS, Hriri Amir Sina. The Analysis of Benford's Law Ability to Identify and Predict Financial Fraud Detection. THE IRANIAN ACCOUNTING AND AUDITING REVIEW[Internet]. 2017;24(2 ):283-302. Available from: https://sid.ir/paper/8065/en

IEEE: Copy

SEYYED ABBAS HASHEMI, and Amir Sina Hriri, “The Analysis of Benford's Law Ability to Identify and Predict Financial Fraud Detection,” THE IRANIAN ACCOUNTING AND AUDITING REVIEW, vol. 24, no. 2 , pp. 283–302, 2017, [Online]. Available: https://sid.ir/paper/8065/en

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