Automated Audit Steps – Initializing the Establishment of a Continuous-Auditing Approach

– strategic advancement: assignment approaches regarding continuous auditing in the form of managed-audit data analysis procedures –

Objective:

This particular consultancy module focuses on continuous auditing (CA) in an initializing format with respect to managed-audit data analysis procedures. These comprise the so-called first risk-oriented stage of CA. It consists of automated and standardized assessments related to audit objects. Nowadays, due to the digital presentation of core processes, the CA approach can be applied to nearly all audit areas within the practical audit environment.

For an audit object or its subsections, it is possible to conduct such procedures in a top-down manner. The task is modeled after ARC’s audit data analysis capability maturity model integration (CMMI) process-improvement approach, the “Global Technology Audit Guide” (GTAG) issued by the Institute of Internal Auditors (IIA) as well as the IIA’s systematics pertaining to degrees of maturity for control functions. Enabled by server-based data analysis software solutions, even decentralized audit teams operating within global corporate structures can access mutually formulated data-analysis activities as well as their results. In the process, analytic results regarding the audit object can be compared with one another. At the same time and spread across different locations, comparisons of risk can be compiled in a benchmarking format.

Server-based IDEA / ACL / QPR software automatically initiates previously defined analytic algorithms at regular intervals. This enables timely analyses for the individual audit objects and their subsections. Subsequently, these are provided in a dashboard form and reporting formats that can be rearranged.
Upon successful completion of this module, course participants are capable of understanding general and company-tailored approaches within the framework of managed-audit data analysis procedures as well as establishing these within their company’s own audit operations. At the same time, practical examples make clear to course participants which audit areas and objects are better suited for adoption within a continuous-auditing concept – oriented according to priorities and their implementation. A joint validation of implementation options within the respective company-specific audit-practice environment takes place at the conclusion.

Topics:

  • Analysis of the audit function’s added-value chain
  • Synchronization of time sequences for conducting risk-oriented data analyses parallel to audit sub-processes
  • Structure of process-integrated data analyses according to ARC’s audit data analysis CMMI approach
  • Formulation of defined standard audit scenarios
  • Advanced functions and procedures in data analysis
  • Methods of results preparation and presentation
  • Integration of analyses within a macro container
  • Support regarding integration and implementation of a company-tailored solution
  • Detailed implementation options for practical application by course participants

Training Team

Audit Championship

Audit-Championship is a university spin-off. We focus on networking between science and practice. Audit-Championship provides thought leadership and innovative methods to support its customers across all industries in digital transformation. We support audit departments globally as well as national Internal Audit associations with yearly 1.800+ training days and transformation services along an internal audit knowledge value chain.

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