Data Mining for Auditors

Internal Audit

Overview

This course will provide Internal Auditors with foundational and practical knowledge of data analytics and mining. This course is designed to differentiate these two concepts while providing auditors with tools to increase audit effectiveness. This course covers data mining techniques, maximizing data, data methodologies, and trend analysis. Participants will also identify ways to improve their continuous audit process and enhance outcome reporting through dashboard visualizations.

Why you should take this course.

For users with an introductory knowledge of this topic, and are searching for additional information and its application.

Here are the topics we'll cover.

  1. Define Data Mining and Continuous Auditing Overview

    • Data Mining
    • Data Analysis
    • Exploratory Analysis
    • Continuous Auditing

  2. Maximizing the Use of Data Overview

    • Enhancing the Audit Plan with Analysis
    • Risk Assessment Procedures
    • Data Testing Procedures
    • Multi-Purpose Tools

  3. Data Methodologies Overview

    • Poisson Distribution
    • Binomial Distribution
    • Linear Regression
    • Linear Regression Outliers
    • Moving Averages
    • Pivotal Points of Change Analysis
    • Measure of Dispersion – Standard Deviation
    • Mean Dispersion Analysis
    • Period-to-Period Analysis
    • Correlation Analysis
    • Concentration Testing
    • Data Patterns and Fraud Factors
    • Beneish M-Score Calculator
    • Keyword Searches for Manual Journal Entries
    • Duplicate Transactions
    • Horizontal Ratio Analysis
    • Vertical Ratio Analysis
    • Compliance Testing
    • Compliance Testing with Excel Functions
    • Operational Audit Tests with Excel Functions
    • Financial Audit Tests with Excel Functions

  4. Defining a Continuous Audit Process

    • Embedded Audit Routines
    • Excel Templates
    • Triggers or Thresholds

  5. Report Outcome Focus

    • Audience Analysis
    • Dashboard Planning
    • Excel Data Cleaning
    • Applying Functions to Testing for Dashboards
    • Consolidating Data Techniques
    • Visual-Centric Audit Reporting
    • Future Improvement and innovations

Learning Style

Instructor Led

Level

Intermediate

Who this course is for

Compliance Officers, Audit Managers and Directors, Financial, Operational, and IT Auditors, and key operational personnel.

NASBA Certified CPE

24 credits

Field of Study

Auditing

Length of course

24h

Prerequisites

Risk Audit School Fundamentals of Internal Auditing
or equivalent experience

Advanced Preparation

None
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Here are the learning objectives we'll cover

  • Differentiate between data mining and data analytics.
  • Demonstrate how data analytics can optimize audit effectiveness.
  • Identify additional audit analytics tools and describe innovations and improvements to these tools.
  • Identify data patterns through hands-on exercises and activities.
  • Explain how different visualization tools can be employed to build practical and useful dashboards.

Attendance policy for on-site and online instructor-led training

Students are expected to arrive on time for classes with the proper materials and attitude. An overall attendance rate of 100% is expected to fully absorb the materials and to complete labs. If you have an expected absence, please email support@acilearning.com or your instructor ahead of time. The number of CPEs awarded will be equivalent to the number of hours attended.

ACI Learning is registered with NASBA

ACI Learning is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: https://www.nasbaregistry.org/