It’s common enough these days to use analytics tools during internal audit fieldwork and/or compliance monitoring so that you’re analyzing all data in a population instead of just a sample. What are some more innovative techniques that you can experiment with to improve which areas you should review with. Should data analytics play a role in risk …
Together with Tableau Software and two of our clients, Visual Risk IQ will be leading a three-part Webinar series that provides some excellent examples and also important “how to” advice on building your team’s skills in using data analytics and visual reporting. To register, please see: http://vriq.us/2pfrvb8 The first session is Tuesday May 2, and …
The newly hired Chief Audit Executive (CAE) was presented with a challenge. During her first month, the CFO had shared an article on use of analytics by internal audit and wanted to see her plans for becoming more data-driven. As she had learned during her interviews for the job, the prior CAE had invested in data analytics software and training but had very little to show for it. Despite that investment, …
How to (Re-)Energize an Internal Audit Analytics Program Read More »
How to optimize classroom (or office space) in response to COVID-19 social distancing requirements? Do you remember the days when classrooms and offices were designed to create spaces that fostered creativity, productivity, and teamwork? It seems quaint doesn’t it? Due to COVID-19 universities and other organizations are all trying figure out how to safely utilize their spaces by the maximum number of people. It …
by: David Poisson, Senior Consultant Visual Risk IQBetter P-Card monitoring through Merchant Category Codes What is an MCC? A merchant category code (MCC) is a four-digit number assigned to a business that describes the type of goods or services the business provides. The codes are defined by the International Organization for Standardization and periodically amended. Credit card …
Better P-Card monitoring through Merchant Category Codes Read More »
From Tom Fox’s Compliance and Ethics Blog, where we were interviewed for a special 5-part piece on data analytics and compliance. See original link for Part 1 at: http://fcpacompliancereport.com/2016/01/9264/ . More to follow. This week I will begin a five-series exploring data analysis and how it can be used by the Chief Compliance Officer (CCO) or compliance …
Data Analytics and Compliance, from Tom Fox’s Compliance and Ethics Blog Read More »
This week we have been blogging about how to succeed with data analytics in areas such as internal audit and compliance. Monday we introduced the following Body of Knowledge and indicated that each of the skills below are often needed for a data analytics project. Project Management Data Acquisition and Manipulation Statistical techniques Visual Reporting …
Five tips…#5 – Supplement Necessary Skills with Internal or External Resources Read More »
For readers seeing this post as their first of the series, today is actually the fourth of a five-part blog that has been developed in response to Internal Auditor magazine’s lead article titled “The Year Ahead: 2015“. Because so many people make resolutions for the new year, we wanted to help audit and compliance professionals succeed …
Five tips…#4. Consider metric, outlier, and exception queries Read More »
This week’s 3rd tip for advancing with audit and compliance analytics is to “Understand Your Data, and Explore it Fully Before Developing Exception Queries.” One common mistake that we see audit and compliance professionals make with data analytics is that they sometimes dive right into searching for transaction exceptions before exploring their data fully. This …
Five tips… #3 – Understanding and Exploring Your Data Read More »
Yesterday we started a multi-part post on the importance of building audit data analytics capabilities, together with some “how-to” tips. Our first tip was how this is actually as much of a people challenge as a technical undertaking. One particular “secret” is that a combination of skills are needed to accomplish these analytics projects, and …
Five tips for Advancing with Audit Analytics. Tip #2 – Brainstorming Read More »
