Monitor Your Entity's Financial Statements
FDP (Fraud Deterrence Propeller) Mirror is a comprehensive guide designed to help you effectively prevent and detect fraud.
With FDP, you can assess the maturity level of fraud detterence in your organization through clear dimensions and indicators, as well as detect potential financial statement fraud using advanced models such as the Beneish M-Score, F-Score, and Benford's Law, with results visualized for easy understanding.
Our Key Features
Fraud Assesment
Our Fraud Assessment feature helps you measure the maturity of fraud prevention efforts in your organization. Through a series of structured questions, you will evaluate your entity's level of readiness in dealing with financial statement fraud.
Fraud Detection
The Fraud Detection feature allows you to identify potential fraud in financial statements. We combine two reporting periods and analyze them using three leading models: Beneish M-Score, Benford's Law, and F-Score. The results of this advanced analysis are then presented to provide a clear evaluation of the potential fraud risks that may exist within your financial data.
Fraud Assessment
The FDP Mirror Fraud Assessment feature is an effective tool for evaluating the maturity level of fraud prevention within your organization. Through a series of focused questions, the system generates a risk score that provides immediate insights for management. This fast and measurable solution helps you understand and detail the company's risk level, enabling proactive steps to safeguard the integrity of financial statements.
Fraud Detection
Our financial statement fraud detection feature leverages the latest data and compares it with historical data using several advanced analytical models. Currently, FDP supports three leading fraud detection models: Beneish M-Score, Benford's Law, and F-Score.
The Beneish M-Score model generates a score that is used to identify potential fraud. If the output score < -2.22 it is likely that the entity does not commit fraud. Conversely, if output score > -2.22, then there is an indication that the entity is likely to commit fraud in its financial statements.
Next, Benford's Law analyzes the distribution of the first digits in financial statement figures. This model is designed to detect irregular or "too perfect" patterns, which often indicate potential data manipulation. Finally, the F-Score assesses fraud risk based on strong fundamental factors within the financial statements, analyzing ratios and variables that have historically been linked to fraudulent activity.
With these three models, FDP functions like a team of financial forensics experts, each bringing a unique perspective to uncover anomalies and enhance the accuracy of detecting potential fraud in your financial statements.
Register your company to use FDP MIRROR!
About FDP Mirror
FDP (Fraud Deterrence Propeller) Mirror is a comprehensive guide designed to help you effectively prevent and detect fraud.
With FDP, you can assess the maturity level of fraud detterence in your organization through clear dimensions and indicators, as well as detect potential financial statement fraud using advanced models such as the Beneish M-Score, F-Score, and Benford's Law, with results visualized for easy understanding.
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