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Data analytics has become a buzzword in the field of internal audit. Now, more than ever we are abuzz with articles and advertisements about data analytics. But one could notice that most of them, if not all, deals on the use of data analytics tools, or simply marketing pitch to sell data analytics product.
Data Analytics v.s. Data Analysis: This seminar will try to distinguish data analysis from data analytics and will focus on data analysis as the logical process integrated in the audit process. Data analytics would be referred to as the supporting technology and/or the associated tools for performing data analysis while data analysis would be referred to as process of inspecting, cleaning, transforming and modeling data with the goal of discovering useful information, suggesting conclusions, and supporting decision making.
Audit Analytics: This seminar would discuss on the practical ways data analysis is applied and integrated into the risk-based audit approach, hence, the term audit analytics. Technical terms, methodologies and categorizations of data analysis, and statistical processes is not part of the seminar.
Topic 1 - Introduction to Audit Analytics
- Rationale
- ISPPIA
- Practice Advisories
- Practice Guides
Topic 2 - Audit Analytic Process
- Key Performance Indicator (KPI)
- Key Performance Driver (KPD)
- Key Risk Indicator (KRI)
- Two-tier risk-based audit approach
Topic 3 - Audit Analytics Applications in Risk – Based Audit Approach
- Macro – analytic dimension
- Controls Dimension
- Transaction Dimension
Topic 1: June 4, 2021 | 9am - 12noon
Topic 2: June 4, 2021 | 2pm - 5pm
Topic 3: June 5, 2021 | 9am - 12noon
