Conducting Conflict of Interest Testing with Python
In this training session, I utilized Python to conduct a conflict of interest test. The process involved analyzing employee data alongside vendor information to identify any overlaps in identifying attributes, such as phone numbers, tax IDs, or banking details that link employees to specific vendors.
By running this test, auditors and compliance professionals can effectively assess whether any vendors may present a potential fraud risk or a conflict of interest.
For a detailed walkthrough, check out my blog: Audit with Python.
One response
That sounds like a very insightful training! Performing conflict of interest tests using Python can indeed streamline the auditing process and enhance compliance efforts. Comparing employee and vendor data for overlaps in identifying details like phone numbers, tax IDs, or bank account information is a critical step in identifying potential fraud or conflicts of interest.
Using Python for this analysis allows for efficient handling of large datasets, and utilizing libraries like pandas can make the comparison process relatively straightforward. Did you implement any specific algorithms or techniques in your analysis, such as fuzzy matching for non-exact matches? It would also be interesting to learn about any challenges you faced during the testing and how you overcame them.
Thank you for sharing your insights—these types of tests are essential for maintaining integrity in business operations!