Analytical Auditing Procedures

Whether you are an electrician, teacher or Internal Auditor, a properly stocked “tool box” can make the difference between success and failure.

As we know, the internal audit profession has and continues to go through significant changes.  We are a futuristic profession: not emphasizing the past, but instead looking back only for the purposes of predicting the future.  We are top-down driven – focusing on the big issues and not bothering with the “nuts and bolts.”  We have a risk focused mentality – going directly to the high business risks first, then to the assessment of internal controls, etc.

“Analytics” (analytical review/audit procedures) may very well be the single most powerful “tool” available to the auditor today.   "Analytics" is a technique used to gather audit evidence on relationships of information – both financial and operational information.   "Analytics" is a tool also used by management to monitor operations, programs, activities; to view the “world” and the impacts it has on the organization; etc. 

Internal auditors use analytics to enhance the quality of audits; to become more efficient and effective; to identify changes; to gain an understanding of the business; etc.  Analytical reviews also aid the auditor in correctly focusing attention on areas of interest: business risks, material issues, and changes taking place in the environment.

This seminar focuses on developing and selecting the appropriate "Analytics" for the particular audit engagement.