Automated Audit Steps – Initializing the Establishment of a Continuous-Auditing Approach
– strategic advancement: assignment approaches regarding continuous auditing in the form of managed-audit data analysis procedures –
This particular consultancy module focuses on continuous auditing (CA) in an initializing format with respect to managed-audit data analysis procedures. These comprise the so-called first risk-oriented stage of CA. It consists of automated and standardized assessments related to audit objects. Nowadays, due to the digital presentation of core processes, the CA approach can be applied to nearly all audit areas within the practical audit environment.
For an audit object or its subsections, it is possible to conduct such procedures in a top-down manner. The task is modeled after ARC’s audit data analysis capability maturity model integration (CMMI) process-improvement approach, the “Global Technology Audit Guide” (GTAG) issued by the Institute of Internal Auditors (IIA) as well as the IIA’s systematics pertaining to degrees of maturity for control functions. Enabled by server-based data analysis software solutions, even decentralized audit teams operating within global corporate structures can access mutually formulated data-analysis activities as well as their results. In the process, analytic results regarding the audit object can be compared with one another. At the same time and spread across different locations, comparisons of risk can be compiled in a benchmarking format.
Server-based IDEA / ACL / QPR software automatically initiates previously defined analytic algorithms at regular intervals. This enables timely analyses for the individual audit objects and their subsections. Subsequently, these are provided in a dashboard form and reporting formats that can be rearranged.
Upon successful completion of this module, course participants are capable of understanding general and company-tailored approaches within the framework of managed-audit data analysis procedures as well as establishing these within their company’s own audit operations. At the same time, practical examples make clear to course participants which audit areas and objects are better suited for adoption within a continuous-auditing concept – oriented according to priorities and their implementation. A joint validation of implementation options within the respective company-specific audit-practice environment takes place at the conclusion.
- Introduction to ARC’s audit data analysis CMMI approach
- Continuous auditing – a strategic trend or just a fad?
- Continuous auditing in contrast to continuous monitoring
- Server-based managed-audit data analysis procedures
- Global decentralized access to analytic results and virtual collaboration between various audit teams
- Technical options, approaches and fundamental prerequisites
- Recommendations for implementation of the IIA-GTAG
- Conceptual structure of operationally automated audit steps
- Practical procedures based on audit objects: credit portfolio, payment transactions, procurement
- Validation of empiric-audit implementation options
- Detailed implementation options for practical application by course participants
About the ARC Institute
With the Audit Research Center, the ARC Institute provides important impulses for the further development of the audit industry. The focus is on networking science and practice. The focus is on further and new development in cooperation with auditors, companies and associations in order to maintain practical relevance and to develop methods, tools and concepts that can be implemented. The results developed in dialogue with industry experts serve as a guideline and adaptation options in practice today, in order to increase the overall benefit of the company in the long term and sustainably with innovative auditing work.
In the spirit of thought leadership, the ARC Institute and the Audit Research Center stand for topic leadership and forward thinking in the area of internal auditing.
Currently, the ARC Institute supports not only leading supranational institutions in the context of research, consulting and personnel development projects, but also numerous listed companies in the three German-speaking countries of Germany, Austria and Switzerland.
Each open training day is 890,- Euro plus VAT when booking the modules individually. Inhouse training conditions are based on individual pricing and travel expenses. After receipt of your registration you will receive a confirmation of registration with invoice. Please pay the registration fee directly after receiving the invoice. The registration fee does not include 19 % VAT. The price includes participation in the lectures of the booked event, lunch, coffee breaks and seminar documents.
Employees and managerial staff from the internal audit function
Interactive presentation, discussion, group projects, practical exercises, case studies, retrospective summary
Training / Training / Consulting period:
Bookings are based on an audit-situation analysis as well as a personal preliminary meeting (workshops generally cover 2-4 days of instruction, audit performance/support determined by circumstances).
Would you like more details about ARC’s Audit Training & Consulting Services, or do you wish to book an appointment with its team? Please address your e-mail inquiry to Info@ARC-Institute.com or phone us at +49-2159-6945-904