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Commercial Pilot Licence (CPAER) – Canada · Question

What is the primary objective of using analytics tools for 'anomaly detection' in an audit of accounts payable?

Anomaly detection in data analytics aims to identify outliers or unusual transactions that deviate significantly from expected patterns. In accounts payable, th

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Question: What is the primary objective of using analytics tools for 'anomaly detection' in an audit of accounts payable?

Answer options:

  • To confirm the accuracy of all vendor invoices. ✅ To identify unusual or unexplained patterns in transactions that could indicate fraud or error.
  • To automate the approval process for all payments.
  • To reduce the overall sample size to zero.

Correct answer: To identify unusual or unexplained patterns in transactions that could indicate fraud or error.

Explanation: Anomaly detection in data analytics aims to identify outliers or unusual transactions that deviate significantly from expected patterns. In accounts payable, this can help pinpoint potential fraudulent payments or significant errors more efficiently than traditional sampling.

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