Author Archives: skyyleracl

No Analytics, No Audit Department

 

dead-audit-department

If YOUR audit department doesn’t embrace data, analytics, and automation eventually, your audit department will NOT exist.

No data, no analytics. No analytics, no automation. Eventually, no audit department.

Editor Note: This post really applies to all departments in a company, but mainly I’m addressing auditors, but you might want to read between the business lines….

By embrace, I don’t mean have one or two auditors working on this. I mean the entire department.

Before you cite all the regulatory requirements mandating the existence of an audit department in companies, having an audit department in name only won’t cut it.

Having an inept audit department will not be acceptable to regulators, and it shouldn’t be acceptable to company management either. Or Audit Committees!

Companies need skilled and efficient auditors that can do the heavy lifting, and this need will only increase.

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Filed under Audit, Data Analytics, Employment, Technology, Written by Skyyler

Audit Automation is NOT all Automation

audit automation ACLSome Chief Audit Executives (CAEs) and audit managers tend to think that audit automation is a set-it-and-forget-it process. NOT.

In this post, I want to expand on a problem I mentioned in an earlier post , 10 Signs Mgmt Doesn’t Really Support Analytics.

Audit management too often thinks that once a process or an audit is automated, ALL auditor/staff hours previously spent performing that process can be reassigned elsewhere.

That is not the case at all.

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Filed under ACL, Audit, Data Analytics, Scripting (ACL), Security, Technology, Written by Skyyler

No Metrics, Little Analytics

analytic metrics, numbersIf your department doesn’t track metrics on your analytics, you are probably not doing analytics or you are making little progress in analytics.

In either case, its obvious that analytics isn’t very important to your management.

Which is one of the points I made in my post, 10 Signs Mgmt Doesn’t Really Support Analytics.

So far, I have encountered very few audit departments that track meaningful metrics about their analytics.

Counting the number of projects that include analytics isn’t enough.

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Filed under Audit, Data Analytics, How to..., Written by Skyyler

CISA Does NOT an IT Auditor Make

cisa study guide, tipsPassing the CISA exam does not make you a good IT auditor anymore than passing a driving test makes you a good driver.

Passing either exam says that you know the basics, but you still have a lot to learn.

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Filed under Audit, Certification, Employment, How to..., Technology, Written by Skyyler

Require Analytic Skills to Hire and Promote 

up down arrowsUnless your department is still in the early stages of your analytics journey, analytic skills should be one of your hiring and promotion criteria.

In an earlier post I outlined 10 Signs Mgmt Doesn’t Really Support Analytics.

One of the signs is that hiring and promotion decisions are made without reference to a person’s analytic skills.

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Filed under Audit, Data Analytics, Employment, How to..., Written by Skyyler

Which Way is Analytic North?

compass analyticsTo create a successful analytics program in internal audit, you must have a plan. A plan that points to analytic North.

That requires WRITTEN goals.

In an earlier post I outlined 10 Signs Mgmt Doesn’t Really Support Analytics.

One of the signs that indicates management isn’t really serious about analytics is that management does not require every staff member to have measurable analytic goals.

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Filed under Audit, Data Analytics, Excel, How to..., Written by Skyyler

Dedicate an Analytics Champion

analytics leaderTo create a successful analytics program in internal audit, you must dedicate a person to serve as an analytic champion.

In an earlier post I outlined 10 Signs Mgmt Doesn’t Really Support Analytics.

The first sign I noted was the lack of a full-time analytic champion.

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Filed under Audit, Data Analytics, Written by Skyyler