Excellent presentation by ACL's John Verver on their Data Analytics Capability model. The shout out regarding our similar CA Maturity model was much appreciated. ACL's efforts to chart the path from one-time, retrospective data analysis (i.e. Hindsight) to more frequent, even predictive data analytics (i.e. Foresight) is on-target.
Noteworthy is that their model doesn't necessarily advocate "continuous" as the desired frequency for data analysis, either for Internal Audit or for management-led monitoring efforts. The right frequency depends on the relative risk of the process and data that is being analyzed.
These slides aren't up yet on the Rutgers site (UPDATE - Link provided above), but I'll look to post a link when they're uploaded. Very good content here for building a simple path toward more frequent, data driven auditing and monitoring.
Following John was Eric Cohen from PwC who provided some excellent information on the state of tagging and XBRL as a technique for automated data acquisition. The ability to acquire external data (e.g. competitor financial results) and compare those results to our own results is an excellent management tool, and one that is now beginning to be realized.
Following Eric Cohen was Andrew Simpson. Andrew is the Chief Operating Officer, CaseWare RCM Inc., formerly SymSure Ltd. Andrew's slide on the cycle (aka "yo-yo") of control measurement and how greater frequency yields continuously improving controls. Though CaseWare is a relatively new entrant in the CA / CM space, they seem to have excellent potential. UPDATE - link to Andrew Simpson's slides, which are now posted at WCARS site:
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