On March 31, Don Sparks (Audimation / IDEA) and I facilitated a day of continuing professional education (CPE) for the Charlotte IIA on the topics of data mining and continuous auditing. To the chapter's surprise and delight (and ours), more than 100 people signed up and attended, making the event a sell-out.
A common theme among the audit teams in attendance was that they are being asked to do much more with less this year, and their focus therefore is turning to data analysis. Some advanced users were in the room and contributed significantly (Thanks Mark LeRoy from Wells Fargo and the whole team from Arrowpoint Capital!). Several groups have made the transition from one-time use of data analysis to more frequent, interval-based analysis. These steps are critical on any journey toward continuous auditing, and it was energizing to hear of the successes.
Most teams are just getting started, and familiar roadblocks such as access to data were heard. The most valuable component of the session were facilitated sessions where tables collaborated on designing and identifying data analysis routines that they were running or would like to run in the near future. We distributed a list of recommended routines for common business processes, and also shared some additional lists by industry for HealthCare, Retail, Financial Services, and Manufacturing. All were particularly well received, and distributed both during the class and by email to those who requested soft copies.
For future sessions, Don and I would plan to have a larger room, with flipcharts, so participants can share both questions and successes with other participants. Look for a new and improved session at your IIA chapter in the near future, or contact one of us to bring such a presentation to your local chapter.
Joe Oringel
Visual Risk IQ
Charlotte NC, USA
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