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Benford’s Law and Digital Analysis: Application on Turkish Banking Sector

Author

Listed:
  • Ozer , Gokhan

    (Gebze Institute of Technology)

  • Babacan, Burak

    (Kapsam CPA LLC)

Abstract

We investigate the effectiveness of Benford’s Law through a digital analysis of the off-balance sheet account disclosures made by Turkish Banks during the 1990-2010. We found that off-balance sheet account disclosures of the fiscal term 1999 doesn’t comply with Benford’s Law. Our finding is consistent with the Turkish Banks’ practices. We also provide evidence on “The Law of Anomalous Numbers”. Our results indicate a link between economic policy and deviation from frequencies of Benford’s Law.

Suggested Citation

  • Ozer , Gokhan & Babacan, Burak, 2013. "Benford’s Law and Digital Analysis: Application on Turkish Banking Sector," Business and Economics Research Journal, Uludag University, Faculty of Economics and Administrative Sciences, vol. 4(1), pages 1-29, January.
    • Handle: RePEc:ris:buecrj:0108
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    Citations

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    Cited by:

    1. Al-Rawashdeh, Firas, 2017. "Applying Benford's law into Jordanian insurance companies to identify earning's manipulations," Business and Economic Horizons (BEH), Prague Development Center (PRADEC), vol. 13(2).

    More about this item

    Keywords

    Benford’s Law; Digital analysis; Banking sector; Fraud investigation;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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