Workshop: Using data analysis to flag transactions of interest

Starts 10 Feb 2022

Overview

Need to audit millions of transactions and don’t know which ones to focus on?

Taking a simple statistical sample is of course one way of selecting a limited set of transactions. However, in this workshop, we take a more risk-based approach and focus on “transactions of interest”. Using a specialised data analysis tool we test each transaction for various indicators (such as round amounts, weekend transactions, vender dependency, etc.) resulting in “red flags”. Optionally we give each indicator a specific weight as not all are equally important. Finally, we use a scoring mechanism to come to a reduced set of transactions to investigate further. As a bonus, we schedule this test to automatically run each quarter and send email alerts when it identifies new transactions of interest.

Workshop: Using data analysis to flag transactions of interest

In this workshop, we take a more risk-based approach and focus on "transactions of interest".

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Facilitator

About the facilitator

Alain Rousseau

Audit software expert

Alain Rousseau is the driving force behind Sepia Solutions and has focussed on audit software tools since 2007. He has implemented data analysis tools (Arbutus Analyzer and ACL) and audit management tools (PAWS and Pentana Audit) at dozens of audit departments.

With an education and background that is both technical (industrial engineer) and business (MBA), Alain is the ideal interface between business users and software developers. His in-depth understanding of the software packages and a firm understanding of the audit profession also makes him an excellent trainer and consultant for these software packages.

Through Sepia Solutions, Alain has sponsored and worked with the IIA since 2010 and participated in various events. As part of the IIA’s Master Class Internal Audit Essentials, he recently wrote a paper discussing the effect of audit software on meeting the IIA’s IPPF standards.

Finally,  Alain tells us he hopes to be the catalyst for your next data analysis project or your implementation of audit management software.