Data Analytics, Continuous Auditing and Audit Automation
Successful data analytics and continuous auditing for internal auditors.
Successful Data Analytics for Internal Auditors
You will learn how to:
- Effectively integrate data analytics and CAAT’s into your audit processes
- Plan for data Access
- Use technology to more effectively and efficiently achieve desired audit results
- Progress from basic analysis into a fully automated mode, and learn the basics of Continuous Auditing
- Design effective strategies and programs to ensure sustainable results
Understand current best practice continuous auditing and how to implement it your organisation. You will learn how to:
- Develop a continuous auditing programme and process
- Secure management buy-and integrate continuous auditing into your organisation’s culture
- Understand the impact of group internal audit functions
- Examine existing examples of continuous auditing strategy and best practice
In this five-day seminar, you will learn everything you need to know about effectively integrating data analytics, or CAATs (Computer Assisted Audit Techniques), into your internal audit processes. You will learn how technology can be used to more efficiently and effectively achieve desired audit results, and get a chance to brainstorm analytics across most major business cycles.
As the course progresses, you will quickly progress from understanding basic analytic techniques such as stratifications, summarizations, duplicate identification, into more advanced techniques such as fuzzy matching, Benford’s Law, and statistical and regression analysis. You will also get a chance to explore cutting-edge topics such as visual analytics, risk scoring, and spatial analysis. Regardless of the tool you currently use or plan to use in your department — whether generic like MS Excel or MS Access, audit-centric like ACL or IDEA, or more IT-oriented like SQL or SAS --the standard pseudo-code used throughout the course will allow you to easily take what you have learned and quickly code it in your tool of choice. If you bring your own laptop, you’ll even be able to practice the techniques on real data files using your tool of choice.
Later in the week, you will learn how to progress from basic data analysis into a fully automated/repetitive mode and learn the fundamentals of Continuous Auditing. You will review common hurdles and hear how the most successful organizations in the world have been able to exploit the power of data analysis to achieve visible and sustainable value.
Participants in audit management will learn how to design effective strategies and programs to ensure sustainable results. Those who will be more hands-on in your analytics program will get a chance to work on real-world scenarios with sample data files. Whether you are in audit management (directing a team where you yourself may never personally use the technology) or the person who will ultimately be using the performing data analysts, this course is for you.
Suitability - Who should attend?
Chief Audit Executives, Internal Audit Heads, Managers, Supervisors and Lead Auditors from the private, public and not-for-profit sectors or anyone performing data analysis techniques.
Outcome / Qualification etc.
MISTI Certificate and 40 CPE points.
Training Course Content
Day One: Applying a technology-enabled approach to auditing
- Data analytics overview
- Business case for data analytics and automation
- Pros and cons of common data analysis technologies
- Common data analysis techniques and methods
- Integrating data analytics across the audit process
Day Two: Data analysis process and analytic development lifecycle
- Define problem, scope and DA objectives
- Locating, understanding and obtaining data
- Validating, transforming and preparing data
- Running modelling procedures, routines and visualizations
- Interpreting and validating results
- Reporting findings and conclusions
- Refining / sustaining analytics for future problems
Day Three: Implementing sustainable practices
- Making analytics repetitive
- Developing appropriate standards
- Data analytics libraries and audit marts
- Leveraging external data sources
- Risk scoring entities and transactional data
- Dashboards, scorecards and visual analytics
- Spatial relationships and mapping
- Predictive analytics
Day Four: Evolving to Continuous Auditing (CA)
- Assurance and the multiple lines of defence
- Fundamentals of Continuous Auditing
- Traditional auditing vs continuous auditing
- Business case for Continuous Audit
- Skill and technology requirements
- Changes to data extraction, data analytic logic and technical documentation
- Effect on audit process
- Considerations for reporting and audit documentation
- Best practices and case studies
Day Five: Developing a sustainable strategy for technology-enabled auditing
- Common implementation hurdles
- Change management: addressing people and process issues
- Technology planning
- Components of an effective data analytics program
- Developing the data analytics strategy
- Implementation planning and program management
Provider: ACI Learning
At ACI Learning, we train leaders in Cybersecurity, Audit, and Information Technology. Whether you're starting your IT career, mastering your profession, or developing your team, we're with you every step of the way. We believe that training is not a...
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