Fraud Detection in Financial Statements using Text Mining Methods: A Review
Ajit Kumar Singh Yadav, Marpe Sora · IOP Conference Series Materials Science and Engineering · 2021
Abstract In the financial industry, financial fraud is one of the ever-growing hazards with far concerns. Financial statements are the fundamental papers which replicate economic position of a corporation. Users of the financial information like public, creditors etc. are the major foundations of a decision-making process for financing stakeholders. Financial fraud has extremely damaged the sustainable growth of financial markets and enterprises. The amount of financial reporting fraud cases keeps on developing. Each incident is a thick hit to partners, banks, and financial specialists and it costs human progress significantly. One of the serious issues is to recognize the financial reporting fraud by utilizing formation of an active model. The aim of this paper is to identifying frauds using various text mining techniques and guard, the public’s investments. This investigation will benefit auditors and financial governors.