33. Ten common areas to focus on when using data for audits

Auditing with data: for Performance Auditors and Internal Auditors that use (or want to use) data

In this episode, we discuss 10 of the more common areas of focus in using data for audits.

1. Get over the fear of using data
2. Focus on the objective and develop the hypotheses
3. Check for previous work, to avoid duplication
4. Source the data – internal and open
5. Prepare the data and check quality
6. Perform the analysis, prove/disprove the hypotheses
7. Conduct QA and business validation
8. Report and visualize
9. Share for potential reuse (audit team, management, other agencies)
10. Lessons learnt: governance, quality of data, timing, process, etc.

Link: This episode's web page (riskinsights.com.au/the-assurance-show-33)

About this podcast

The podcast for performance auditors and internal auditors that focuses on data & risk. Hosted by Conor McGarrity and Yusuf Moolla. Produced by Risk Insights (riskinsights.com.au).

Chapters

1. 33. Ten common areas to focus on when using data for audits (00:00:00)

2. Get over the fear of using data (00:01:01)

3. Focus on the objective and develop the hypotheses (00:01:27)

4. Check for previous work, to avoid duplication (00:02:04)

5. Source the data – internal and open (00:02:54)

6. Prepare the data and check quality (00:03:58)

7. Perform the analysis, prove/disprove the hypotheses (00:05:56)

8. Conduct QA and business validation (00:07:05)

9. Report and visualize (00:08:06)

10. Share for potential reuse (audit team, management, other agencies) (00:09:38)

11. Lessons learnt: governance, quality of data, timing, process, etc. (00:11:47)