Continuous Auditing and Data Analytics, Canton, Ohio
As part of an outsourced internal audit team, PB Advisors was asked to assist a large, multi-national privately-held company in the implementation of Continuous Auditing procedures using data analytics.
Sarbanes-Oxley Compliance Project Requested By: Director of Internal Audit
Solution:
Procedures included:
Gaining an understanding of the goals of implementing Continuous Auditing
Choosing the most viable accounts and processes to test
Assessing the best approach and testing procedures (developing parameters for each account/process)
Working with Information Technology (IT) individuals to understand what data was available and the best way to ascertain that data in a usable format
Discussing approach with company management to ensure their understanding and accuracy of data and testing parameters
Sample testing to ensure achievement of stated goals
On-going, periodic testing of each account/process to ensure proper controls were in place, investigation of anomalies and irregularities
Results/Deliverables:
A list of data sets and testing parameters by process including IT individual who provided assistance in retrieving data
Tests including process owner name, control being tested, purpose, expected results, follow-up procedures
Results of each test, testing date, procedures completed, conclusion and action required (if any)
Schedule of completion dates for testing procedures
Overall conclusion, lessons learned, updates and improvements
Location: Canton, Ohio - 44707
Please contact us today to discuss your Internal Audit:
Patrick Brogan, President
CPA, CIA, CFE
PB Advisors
440.915.1180