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Using Data Analytics for Fieldwork & Reporting (Session 3)

Course Description

Data analytics can be an extremely useful tool for internal audit teams, as it not only enables analysis of large amounts of data with less effort and greater efficiency and effectiveness than more manual assessment methods, but also provides more coverage than sample testing approaches. This is especially true for the fieldwork and reporting phases of internal audit projects. Some common areas where data analytics is often used in fieldwork include major high-volume, high-risk business processes such as procurement, accounts payable, and payroll. This course covers examples and explanations of how to use data analytics during the fieldwork phase, make data-based conclusions and insights, discuss fraud/anomaly detection, transition from sample testing to full population testing, and present data analytics results and findings in an audit report for maximum impact.

Learning Objective(s):

  • Understand the wide variety of uses for data analytics for fieldwork to be able to identify uses within the organization.
  • Demonstrate how to transition from sample testing to full population testing and outline  the benefits of full population testing.
  • Determine how to make data-based conclusions and insights from data analytics results, including identifying trends and anomalies, as well as presenting results in an audit report.
Course Duration: 0.012 day(s)
CPEs Available: 1.2
Knowledge Level: Basic
Field of Study: Information Technology
Prerequisites: 
​None
Advance Preparation: 
​None
Delivery Method: QAS Self-Study