Developing Effective Continuous Audits: Master Class

OBJECTIVES
• Importance of planning objectives
• Determining the level of effort for each of the four stages of data analytics progression
• Learning how to execute a data discovery walkthrough
• Designing a continuous audit from a manual test based on a sampling approach
• Developing new tests to support control objectives
• Learning how to transition to continuous

CONTENT
Overview of Data Analytics
• What is data analytics?
• CAATs vs. continuous auditing vs. continuous monitoring
• Why data analytics
• Data analytics uses in internal audit, in business
• Automation
• Implementation process overview

Variables
• Overview
• System-generated vs. user-created
• Leveraging variables for continuous auditing

Case Study | Planning
• Understanding the sample testing procedures
• Conducting a data discovery interview
• Brainstorming new tests
• Documenting clear objectives

Case Study | Preparation
• Data access and validation
• Identifying data integrity issues
• Determining critical fields to meet objectives
• Control totals vs. reconciliation

Case Study | Testing
• Reviewing data for additional tests
• Preforming tests

Case Study | Review
• Compare before analytics vs. after analytics
• Documentation standards
• Creating continuous monitoring vs. auditing
• Future considerations

FOR WHOM
Internal, financial, operational, and risk management and staff with analytics experience

METHODOLOGY
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:
1ST BATCH: 25th – 28th Feb,2025
2ND BATCH: 12th – 15th Aug,2025