What Every Auditor Needs to Know about Data Analytics

Description

If you've made or are thinking of making an investment in audit analytics software, this webinar is a must. Too often firms invest in new technologies only to be disappointed when results fall short of expectation. The reason: true expertise with the software naturally gravitates toward a handful of "super users," while the rest of the firm uses only the most basic features of the new tool if they use it at all. Data analytics can transform auditing but only when all auditors have a fundamental understanding of how it can be used as a problem solving tool. This case study-driven course helps auditors "think like a data scientist" by walking through a step-by-step process for properly framing the problem to be solved, designing an effective analysis and evaluating the results. This course is the perfect complement for any firm exploring the use of Power BI in their audit or consulting practice.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Highlights

The major topics that will be covered in this class include:

• What is data analytics?
• Introduction to the Flatiron Solar case study
• Applying the data analytics lifecycle to Flatiron Solar

Objectives

After attending this presentation, you will be able to:

• Apply the definition of data analytics to audit engagement tasks (including engagement management) they currently face
• Follow the analytics life cycle approach to address audit issues, including:

1. Define audit planning objectives and create an audit question to be solved through analysis
2. Leverage a basic understanding of the client and its industry to create a testable hypothesis
3. Model a data analysis solution to test the hypothesis using a selection of data mining techniques
4. Analyze the results and use the analysis to plan appropriate subsequent actions

Designed For

Auditors with a need to better understand how data analytics can be deployed effectively, efficiently, and consistently across engagements of all types.