In the previous post, Create a Team for Audit Analytics? Part 1, I explored the pros and cons of developing an analytics team.
This team consists of analytic auditors who are dedicated to analytic projects; they would NOT typically manage audits or testing that did not include analytics.
In this post, let’s explore another option for managing and growing analytics in an audit department — expecting all auditors to develop a level of data and analytic proficiency.
This is the second post of a 3-part series…
A recent IIA article on building an analytics function in internal audit is dead wrong.
At least on one major point, anyway. And it’s a big one.
As the tombstone reads, this point is D.O.A (dead on arrival, or more specifically, dead on analytics).
The article, Building a data analytics program, requires IIA membership to view, and is located at https://iaonline.theiia.org/2017/Pages/Building-a-Data-Analytics-Program.aspx (that’s actually good, as it means a lot fewer people will ever read it).
Your management says it wants more analytics, but does it really support analytics? Here’s 10+ signs that indicate that your mgmt:
- Does NOT knows what it takes to get analytics off the ground
- Believes that analytics multiply like rabbits, naturally
- Is NOT willing to make the adjustments required to deliver and sustain real value.