Tag Archives: analyze

A Sneaky Way to Analyze IT Controls

When auditors need to identify and understand IT controls, they search the company intranet, review policies, look for Github repositories, review inventories, schedule meetings, and analyze IT asset data.

I stumbled on a better way to get insight into the IT controls in my company, and I didn’t have to email anyone, do any research, or frankly, anything outright. The IT controls came after me.

Fortunately, the IT controls were blind to the fact that I am an IT auditor. To them, I was just an ordinary bloke. But that didn’t last long (more on that later).

It Began a Few Years Back

It all started a couple years ago when I was building the infrastructure required to support our data analytic efforts in internal audit.

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Before You Analyze Data

Before you start analyzing data, you need to 1) know you have the right data, and 2) understand the data and the process that produced it.

This post assumes, of course, that you already accomplished some of the hardest tasks already: figuring out what data you need, where to get it, and actually getting the data. Good luck with that. :)

This post is part of the Excel: Basic Data Analytic series.

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How to Profile Data

Before you analyze data, you should profile it.

Otherwise, your analysis may not be too broad, too narrow, or you may miss some important insights or errors.

This post is part of the Excel: Basic Data Analytic series.

Data profiling is developing a profile of your data, just as facial profiles of a person, taken from various angles, helps you size up a person’s nose, identify whether his chin is sagging, and how far apart the person’s eyes are.

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Why You Must Validate Data

basic data analytics1Before you analyze data, you must first validate it.

Otherwise, your analysis may not be accurate, and you may miss some important insights or errors.

This post is part of the Excel: Basic Data Analytic series.

Before analyzing your data, you need to check the following:

  • Duplicate transactions do not exist.
  • Required fields/key fields do not contain blanks, spaces, zeroes, unprintable characters, or other invalid data.
  • Date fields contain real dates, and the range of dates is appropriate.
  • Amount fields don’t contain inappropriate zero, positive, or negative amounts, and the range of values is appropriate.
  • Each field is stored in the correct format. This prevents data from being converted on the fly into something else unexpectantly (e.g., user ID JUL15 becomes 15-Jul).

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Review of ACL Excel Add-in, Now FREE!

In case you missed it, ACL released the next version of their Acerno product, renamed it ACL Excel Add-in, and made it FREE!

So I thought I’d update my review.

For my original review of Acerno, see A Review of ACL Acerno. It still seems that I’m the only one who ever took the time to review the product (versus marketing blurbs, which are all over the ‘net), which appears to be a statement regarding its popularity.

Despite the poor popularity, since they updated it AND made it free, I decided to dive in for another look.

Note: This add-in is not just for auditors! Any one who regularly reviews data should consider using this simple, EASY-to-use software.

Please take the new & improved poll at the bottom of this post (also free).

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Filed under ACL, Audit, Data Analytics, Excel