In this episode we discuss five key challenges that assurance professionals - internal auditors and performance auditors - face in using data for audits.
This is part 1 - outlining the challenges. In parts 2 to 6, we will discuss solutions to each challenge individually.
The five items are:
- Access to data - you can't get all the data, or you can't get it quickly enough.
- Low value - the analysis doesn't provide new insights.
- False positives - too many of them; results are overwhelmingly noisy, distracting your focus.
- Superficiality - the results are not deep enough to properly understand and refine the problems or to provide opportunities for improvement.
- Reporting - the results are not available in time for reporting, the report is not tailored to the audience.
Links
- Blog article - 5 challenges to tackle - data in audit
- Blog article - Principle 3: Maximize benefits
- This episode's web page (with full transcript)
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.