T O O L S F O R E F F E C T I V E I N T E R N A L A U D I T I N G

Sessions cover software and other tools that can help in performing data analysis and continuous auditing.

CS 1-7
From Business Process to Enterprise Risk Management: A Single Version of the Truth
Farid Aractingi, Renault (France)

Internal audit functions did organize through the years to include tools for personal efficiency, collaborative work, data crunching and analysis, etc. But this was still the old ages before the deployment of truly integrated tools bridging the organizations across their silos. It is now possible to access tools for global risk management and capture their benefits by effectively focusing audits on real business stakes.

In this session, participants will:

Understand the perspectives of the different actors of internal control throughout the company, and their expectations from improved governance.
Share a holistic vision, from Business Process to Action Plans, through Internal Control referentials, risk mapping and audit programs.
Learn about Renault’s system for GRC to streamline audit and increase business alignment.

FIELD OF STUDY: MANAGEMENT ADVISORY SERVICES

CS 2-7
Achieving Business Assurance Through Data Analysis
Steve Biskie, ACL

Are you confident with the level of business assurance you provide to your organization? Learn how to add greater value by achieving more comprehensive insight into key risk areas. Find out how to accurately detect and gauge control weaknesses that put organizations at risk by leveraging data analytics and automating audit processes. Hear recent examples on business assurance from companies that are using data analytics to recover costs, provide timely risk reports, and do more with a lot less.

Participants will learn how to:

Test entire data populations on ad-hoc, repetitive or continuous basis.
Automate manual, repetitive tasks.
Analyze data then store, share and leverage results across audit team.
Distribute transactional evidence of fraud, error and waste directly to the business.

FIELD OF STUDY: COMPUTER SCIENCE

CS 3-7
Embedding CAATs in Your Audit Processing and Continuous Fraud Auditing
Seth Davis, RLI Insurance
Pat Ferrell, RLI Insurance

Find out how data analytics can add significant value to your audits. Gain insights from this case study about RLI insurance and hear about techniques you can employ quickly including a sustainable ROI for continuous auditing.

After this session, participants will understand:

Embedding CAAT tools in the audit process.
Moving to a continuous audit approach including tips for scripting.
Identifying and preventing fraud and funds leakage.
Using red-flag indicators to reduce false positives to save time and be risk focused.

FIELD OF STUDY: COMPUTER SCIENCE

CS 4-7
Advanced Analytics
Dan Kneer, Dan Kneer Advisors
Kimberly Kneer, Dan Kneer Advisors

Advanced analytics has been proven to be the most efficient and effective of all audit techniques. What if very advanced analytics capabilities were already on your laptop? This talk provides the auditor with proven and practical audit tools … already on their laptop. These tools are useful on every audit, and great for finding fraud/waste/abuse tool. Participants are encouraged to bring their notebook computers to participate during the presentation.

After this session, participants should be able to:

Identify how to conduct an audit faster and better with analytics.
Perform targeted auditing and deploy audit resources more efficiently.
Find “best practices” and not just problems to save your company money.
Recognize that the most efficient, proven and practical audit tool is already on your computer.
Locate fraud easier.

FIELD OF STUDY: STATISTICS

CS 5-7
CAATs for Added Value: Implementing Continuous Monitoring
Matty Pleumeekers, Essent NV

The increase in IT dependencies and the growing number of electronic transactions a day forces Internal Audit departments to change their traditional audit approach. Sample testing and ad hoc analysis are being replaced by substantive audit procedures by using Computer Assisted Audit Tools (CAATs). Subsequently, many audit departments try to mature their audit approach by implementing Continuous Control Monitoring and Auditing. Essent Trading’s CCM will be used as a business case to outline the approach and faced challenges of a CCM implementation.

After this session, participants will be able to:

Use a standard approach for using CAATs in their data analytics.
Define an implementation strategy for Continuous Control Monitoring.
Identify your own key success factors and solve challenges for implementing CCM.
Discuss ownership and added value of CCM at the board level.

FIELD OF STUDY: COMPUTER SCIENCE

CS 6-7
How to Effectively Sell Continuous Auditing
Robert Mainardi, Mainardi and Associates

While developing and documenting your continuous audit methodology is required during implementation, selling your enhanced audit product is critical to ensuring the successful integration into your department and company.

In this session, participants will be able to:

Reveal the challenges to selling a “different” audit approach.
Identify and explain critical management and internal audit conditions.
Discuss and answer direct business owner questions.
Describe the uses, users, and benefits to a successfully implemented continuous audit program.

FIELD OF STUDY: AUDITING

CS 7-7
Lip Service Adoption of Audit Tools – An Exploration of the Winners and Losers in the Next 10 Years
Paul Gascoigne, Morgan Kai Ltd.

Internal audit teams are under continuous pressure to increase the quantity and quality of work within the same financial constraints as everyone else, so how is this possible? Explore how technology will deliver dramatic, tangible advances in both the efficiency and effectiveness of audit teams over the next few years.

In this session, participants will learn how to:

Identify true opportunities for the use of technology.
What technology innovations are here and now and will be available in the foreseeable future.
Characteristics of winners and losers in their use of technology.
The major pitfalls to avoid when considering and implementing software.
How social changes are driving employees assumptions about the role and use of technology.
The “Generational Shift” in workplace technology and its impact on day-to-day audit work.

FIELD OF STUDY: AUDITING