The Assurance Show: Recent Episodes
Risk Insights - Conor McGarrity and Yusuf Moolla
The podcast for performance auditors and internal auditors that focuses on data & risk. Hosted by Conor McGarrity and Yusuf Moolla. Produced by Risk Insights.
This is the final episode of this podcast.
It includes:
- an explanation - why the podcast is coming to a close.
- snippets from a selection of prior episodes
- a brief introduction to Algorithm Integrity Matters - the new Risk Insights podcast.
About this podcast
The podcast for performance auditors and internal auditors that use (or want to use) data.
Hosted by Conor McGarrity and Yusuf Moolla.
Produced by Risk Insights (riskinsights.com.au).
Embracing Internal Audit Evolution: A Conversation with Michael Drechnowicz, Head of Internal Audit at TK Elevator
In this episode, Michael shares his insights on the evolution of IA in his role as Head of Internal Audit with a major player in the global elevator and escalator industry.
His work demonstrates a shift from traditional finance-focus towards extensive business process coverage, ranging from sales to purchasing and fraud investigations.
We discuss the increasing importance of diversity in global audit teams and how technology, particularly Artificial Intelligence (AI) and data analytics, are transforming internal audit processes.
The conversation further touches on AI's importance in identifying and managing risks, improving process efficiency, and augmenting the learning experiences of junior auditors.
Looking ahead, Michael sees a promising and dynamic future for internal auditors amidst rapid digital transformation.
Maura Hayes-Chaffe is the Deputy Comptroller for Audit in New York City.
This episode has snippets from the full episode recorded for The Performance Audit Report.
Our guest is Cathy O'Neil, author of Weapons of Math Destruction: how big data increases inequality and threatens democracy.Cathy joined us todiscuss critical aspects for auditors to consider, including:
- The human element: why understanding 'for whom an algorithm might fail' is more important than the detailed technical design of an algorithm.
- Algorithm testing: the importance of post-deployment testing to ensure there are no unintended adverse outcomes.
- Setting standards: the need for industry-wide standards so that regulators can ensure there is no bias or discrimination in how algorithms operate.
- Laggers and leaders: the four big industries/domains using algorithms that need to step up audit in their space and how law-makers and regulators are catching up.
- Emerging AI, e.g. language models/chatbots - why trust by users is key, and the pros and cons of using these models.
Links
- Cathy's company, ORCAA
- Weapons of Math Destruction (book)
- This episode's web page: https://www.riskinsights.com.au/podcast/the-assurance-show-64/
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).
Michael Pickup is the Auditor General of British Columbia in Canada.
This episode has snippets from the full episode recorded for The Performance Audit Report.
Patrick Barr is Director, Performance Audit at the Northern Ireland Audit Office.
This episode has snippets from the full episode recorded for The Performance Audit Report.
Kelsey Thompson is an Assistant City Auditor with the Office of the City Auditor in Austin, Texas.
This episode has snippets from the full episode recorded for The Performance Audit Report.
In the episode, you will hear Kelsey saying that she is a supervising senior auditor - she was at the time of recording, and was promoted to Assistant City Auditor in the short window between recording this episode and publishing it. Congrats Kelsey.
Mike Scott is Lead Auditor and Manager Assurance and Audit at the New Zealand Department of Internal Affairs. He has over 30 years of audit experience, including 15 years in performance audit with the New Zealand Office of the Auditor-General and 17 years with the UK National Audit Office.
This episode has snippets from the full episode recorded for The Performance Audit Report.
This is an episode that aired on The Rundown [Kansas Legislative Division of Post Audit], discussing the report "Evaluating the Kansas Department of Labor’s Response to COVID-19 Unemployment Claims (Part 2)"
Mark Funkhouser is President, Funkhouser & Associates. He is one of the founders of the International Center for Performance Auditing (ICPA) and previously spent 18 years with the Office of the City Auditor of Kansas and 10 years with the Tennessee Division of State Audit. He's been the Mayor of Kansas City, had spells in academia and publishing and has written a book on performance auditing.
This episode has snippets from the full episode recorded for The Performance Audit Report.
Links:
- Mark Funkhouser on LinkedIn - https://www.linkedin.com/in/mark-funkhouser/
- Funkhouser & Associates - https://mayorfunk.com/
Scott Frankis the Director of Performance and IT Audit at the Washington State Auditor’s Office.
This episode has snippets from the episode recorded for The Performance Audit Report.
The episode was recorded at the 2022 NSAA conference in Atlanta, Georgia.
In this episode, we discuss:
- How performance auditors are using data in their work and future opportunities to use data
- A recent performance audit on voting in the State of Washington that had some data challenges to overcome
Links:
- https://sao.wa.gov/ - Office of the Washington State Auditor
- https://www.nasact.org/2022_nsaa - National State Audit Association Conference 2022
A quick episode to provide an update about this show.
In short, lower frequency (ad-hoc), with regular episodes of the new podcast - The Performance Audit Report - planned.
Maarit Widmann is a data scientist at KNIME.
In this episode, we discuss:
- What KNIME is
- Why the visual programming paradigm (workflows, rather than code) is appealing to both technical and non-technical professionals
- The most challenging aspects of the data science lifecycle, and what auditors should be aware of
- The most important aspects of the data science lifecycle
Links:
- KNIME (www.knime.com)
- This episode's web page (riskinsights.com.au/podcast/the-assurance-show-55/)
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).
In this episode we discuss the use of the word "analysis" in the context of using data for audits.
This is an attempt to define the "analysis phase" - or stop using it as the name of a phase - so that we can better structure our work.
Link: This episode's web page (riskinsights.com.au/the-assurance-show-54)
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).
This episode is a pre-recorded interview with Benji Block for the Author Hour podcast. We discuss our new book, The Data-Confident Internal Auditor.
For internal auditors, developing trends in data analysis and data science can feel less like a wealth of information and more like an avalanche. Still, better use of data provides an opportunity to advance your career by adopting new invaluable skills.
The missing link: jargon-free guidance that cuts through the hype. The Data-Confident Internal Auditor demystifies the use of data in internal audits through practical step-by-step guidance. With concepts and tools that are easy to understand and apply, this comprehensive guide shows you how to approach data yourself without having to wait on a data scientist or a technical expert.
Developed over the course of hundreds of actual audits, these real-world approaches and practices are distilled into a simple sequence of steps that will leave you feeling confident and even eager to apply them for yourself.
Links:
- The Data-Confident Internal Auditor on Amazon (https://geni.us/DataConfidentInternal)
- The Data-Confident Internal Auditor site - with bonus resources (https://www.data-confident.com/)
- This episode's web page (riskinsights.com.au/the-assurance-show-53)
- The original episode on Author Hour (https://authorhour.co/the-data-confident-internal-auditor-yusuf-moolla-conor-mcgarrity/)
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).
This is the fourth in a series of episodes that focus on performance auditing.
In this episode, we discuss five suggestions to help improve the conduct (fieldwork / execution) phase.
Link: This episode's web page (riskinsights.com.au/the-assurance-show-52)
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).
In this episode we discuss why and how audit quality is improved when we keep things simple.
Link: This episode's web page (riskinsights.com.au/the-assurance-show-51)
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).
This is the third in a series of episodes that focus on performance auditing.
In this episode, we discuss the benefits of adopting a data focused approach during audit planning.
Link: This episode's web page (riskinsights.com.au/the-assurance-show-50)
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).
This is the second of a series of episodes that focus on performance auditing.
In this episode, we discuss the importance of balance in your work program - covering each of the four objectives:
- Effectiveness
- Efficiency
- Economy
- Compliance
Link: This episode's web page (riskinsights.com.au/the-assurance-show-49)
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).
This is the first of a series of episodes that focus on performance auditing.
In this episode, we discuss strategic audit planning (a.k.a. forward work planning).
For internal auditors, this is similar to annual (or equivalent) audit planning.
- Understanding your community / public expectations
- Understanding your elected body / parliamentarians
- Understanding the entities within your audit office's jurisdiction
Link: This episode's web page (riskinsights.com.au/the-assurance-show-48)
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).
In this episode we discuss three simple ways to improve the data cleansing process - easier, faster and higher quality.
- Find the optimal data source (e.g., don't use a poorly structured dataset)
- Cleanse iteratively - you may not need all of the fields/columns
- Import iteratively - start with a subset of the data and build on that as needed
Link: This episode's web page (riskinsights.com.au/the-assurance-show-47)
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).
In this episode we discuss the use of risk/performance indicators.
These can be used by audit teams, risk teams and integrity agencies.
For audit teams, they are useful throughout the audit lifecycle - planning / risk assessment, fieldwork / conduct and reporting.
We explore why they are useful, what to do and briefly how to get started.
This page (riskinsights.com.au/the-assurance-show-46) contains an example of a dashboard that brings risk indicators together.
Link: This episode's web page (riskinsights.com.au/the-assurance-show-46)
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).
Christine (performance audit) and Xiaoyan (data analytics) are Directors with ANAO, the Australian National Audit Office.
In this episode we discuss:
- What ANAO does
- The five ways ANAO uses data in its performance audits
- How performance audit teams work with the central data team
- Challenges with data preparation
- The benefits of a strong focus on data quality
Links:
- The Australian National Audit Office (www.anao.gov.au)
- This episode's web page (riskinsights.com.au/the-assurance-show-45)
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).
Tiina Landau is an internationally recognized sustainability expert and Certified European Financial Analyst (CEFA). She currently works as Sustainability Manager at Neste Corporation, embedding sustainability considerations into new business models and supply chains.
She has extensive experience as a speaker in media and seminars and also writes a column in the Finnish financial newspaper Kauppalehti.
In this episode, we discuss Tiina's book: Sustainable Investing - Beating the Market with ESG. We also explore how internal auditors can help their organizations navigate ESG risks and opportunities.
Links:
- This episode's web page (riskinsights.com.au/the-assurance-show-44)
- Tiina's book: Sustainable Investing - Beating the Market with ESG (www.palgrave.com/gp/book/9783030714888)
- Tiina on LinkedIn (www.linkedin.com/in/tiinalandau/)
About this show:
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).
Erica Toelle is a senior product marketing manager on the Microsoft compliance product team, with focus on information governance and records management.
Erica is a long-time member of the SharePoint and Microsoft 365 community, a former Microsoft MVP, a published author, and a recognized expert in the information governance area.
In this episode, we discuss Erica's book - Microsoft 365 Compliance: A Practical Guide to Managing Risk.
Links:
- This episode's web page (riskinsights.com.au/the-assurance-show-43)
- Erica's book - Microsoft 365 Compliance: A Practical Guide to Managing Risk (https://www.apress.com/us/book/9781484257777)
- Erica on LinkedIn (https://www.linkedin.com/in/ericatoelle/)
About this show:
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).
Michael DeCero is an Internal Audit Analytics Manager at TDS, a telecommunications company.
In this episode, Michael explains how he helps his audit team use data.
Links:
- This episode's web page (riskinsights.com.au/the-assurance-show-42)
- Towards Data Science (www.linkedin.com/company/towards-data-science)
- Michael on LinkedIn (www.linkedin.com/in/michael-decero-39b95b44/)
About this show:
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).
Steve Rummel is a Senior Internal Audit Analytics Manager at CVS Health.
In this episode, Steve explains how he helps his audit team use data.
Link: This episode's web page (riskinsights.com.au/the-assurance-show-41)
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).
Ari Levien is an experienced Chief Information Officer who has also played the role of Chief Risk Officer.
In this episode we discuss how a CIO (with an understanding of risk) thinks about security and risk. We also discuss his views of Internal Audit and what good looks like for IA.
Link: This episode's web page (riskinsights.com.au/the-assurance-show-40)
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).
In using data for audits, quality assurance of our work is important.
In this episode, we discuss:
1. The four main QA steps
- Technical QA
- Functional QA
- Business QA (validation)
-
Audit QA
-
Why we need a QA Plan
Link: This episode's web page (riskinsights.com.au/the-assurance-show-39)
About this podcast
The podcast for performance auditors and internal auditors focuses on data & risk. Hosted by Conor McGarrity and Yusuf Moolla. Produced by Risk Insights (riskinsights.com.au).
In this episode, we discuss FIVE major benefits of investing our time in preparing our data and checking its quality.
These include, in reverse order of importance:
-
Exploration during data prep to understand the data
-
Ensure the data is in the right format for analysis
-
Save time by avoiding incorrect conclusions
-
Confidence in the analysis and result
-
Identify important data related improvement opportunities
Link: This episode's web page (riskinsights.com.au/the-assurance-show-38)
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).
Morag (Senior Manager) and Gemma (Director) are Performance Auditors with Audit Scotland.
In this episode we discuss how they are using data in their audits, their experience in developing Audit Scotland's data capabilities, collaboration with other audit offices and what the future roadmap looks like.
We also discuss their focus on ensuring their reports meet their audience’s needs, and how data visualisations and charts are being used to communicate key messages.
Link: This episode's web page (riskinsights.com.au/the-assurance-show-37)
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).
In this episode, we discuss why it is important to focus on our audit objective when using data analysis in our audit.
We explore:
- Why a focus on the objective helps us measure success
- Why we should avoid rules based analysis
- How a focus on the objective helps us stay true to our audit mandate
- Cost benefit analysis when we find things that are not related to the audit
- Why a focus on the objective helps us in reporting on data quality or missing data
Link: This episode's web page (riskinsights.com.au/the-assurance-show-36)
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).
Stephen leads the data science team within Performance Audit at VAGO, the Victorian Auditor General's Office. We discuss:
- What VAGO does
- Stephen's approach to helping auditors use data
- Why it's important for all performance auditors to have data skills
- How VAGO has used open data to improve transparency
You can reach out to Stephen via LinkedIn (www.linkedin.com/in/smcateer).
Links
- VAGO Audit Report – Measuring and reporting on service delivery with interactive dashboard for exploring Victorian department performance (www.audit.vic.gov.au/report/measuring-and-reporting-service-delivery)
- VAGO Audit Report – Accessibility of Tram Services with interactive map on the accessibility of Melbourne’s tram network (www.audit.vic.gov.au/report/accessibility-tram-services)
- VAGO Audit Report – Council Libraries which uses Data Envelopment Analysis (DEA) to evaluate efficiency (www.audit.vic.gov.au/report/council-libraries)
- This episode's web page (riskinsights.com.au/the-assurance-show-35)
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).
Taka is the inaugural Chief Data Scientist at the US Government Accountability Office.
He also leads the GAO's Innovation Lab. We discuss:
- What the GAO does
- How data science is helping GAO
- Innovation and experimentation at GAO
- Machine learning assurance
You can reach out to Taka via the GAO website.
Links
- This episode's web page (riskinsights.com.au/the-assurance-show-34)
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).
In this episode, we discuss 10 of the more common areas of focus in using data for audits.
- Get over the fear of using data
- Focus on the objective and develop the hypotheses
- Check for previous work, to avoid duplication
- Source the data – internal and open
- Prepare the data and check quality
- Perform the analysis, prove/disprove the hypotheses
- Conduct QA and business validation
- Report and visualize
- Share for potential reuse (audit team, management, other agencies)
- 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).
Note: This is a guest interview.
Alli is an information design consultant and host of the Data Viz Today podcast.
We talk about a range of data visualization matters, including 3 key mistakes that people make when starting out in dataviz (and solutions to those).
You can reach out to Alli via her website (www.allitorban.com).
Links
- Financial Times Visual Vocabulary (github.com/ft-interactive/chart-doctor/tree/master/visual-vocabulary)
- Stephanie Evergreen's What, So What, Now What (stephanieevergreen.com/what-so-what-now-what)
- Template for all those charts done in excel (policyviz.com/product/visual-vocabulary-in-excel)
- Alli's brainstorming worksheet for developing visual metaphors
- Alli's brainstorming template for focusing the story in your data viz
- Alli's Tessellated Unit Chart for Viz for Social Good
- Viz for Social Good (www.vizforsocialgood.com)
- Reuter's "Drowning in Plastic"
- This episode's web page with transcript (riskinsights.com.au/the-assurance-show-32)
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).
In this episode we wrap up, talking about:
- a few things we've learned this year
- feedback - what people found valuable
- feedback - what people want to hear more about
- some of the tech/software used to produce this podcast
Links
- This episode's web page with transcript (riskinsights.com.au/the-assurance-show-31)
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).
Note: This is a guest interview.
John talks to us about what audit offices (a.k.a. supreme audit institutions) do and the role of the CTO in an audit focused organization.
He shares his views on a range of issues including:
- His positive experience with their (outsourced) internal auditors
- How he supports an audit focused organization
- Cyber and data governance frameworks; evolving IT practices that auditors need to keep a close eye on.
John is open to connecting with like-minded professionals.
You can reach out to him on LinkedIn.
Links
- John Moore on LinkedIn (www.linkedin.com/in/john-moore-01986a7a)
- Where John works (Queensland Audit Office) (www.qao.qld.gov.au)
- Where John studied (Loughborough University) (www.lboro.ac.uk)
- The Essential Eight (strategies to mitigate cyber security incidents) (www.cyber.gov.au/acsc/view-all-content/essential-eight/essential-eight-explained)
- ISO27001 (www.iso.org/isoiec-27001-information-security.html)
- Microsoft password policy recommendations (docs.microsoft.com/en-us/microsoft-365/admin/misc/password-policy-recommendations)
- This episode's web page with transcript (riskinsights.com.au/the-assurance-show-30)
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).
Note: This is a guest interview.
Andrew talks to us about machine learning (ML) and what auditors should consider regarding ML assurance.
You can reach out to Andrew via the Monitaur website.
Links
- Monitaur (monitaur.ai)
- This episode's web page with transcript (riskinsights.com.au/the-assurance-show-29)
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).
Note: This is a guest interview.David talks to us about IAC's latest report, the Talent Barometer and the upcoming Diversity report.
He shares his views on a range of issues including:
- Data skill gaps
- Leadership skill gaps
- Why culture is important
David is open to connecting with Internal Auditors.
You can reach out to him on LinkedIn.
Links
- David Haylor on LinkedIn (www.linkedin.com/in/internalaudit)
- The IAC Talent Barometer (iac-auditsearch.com/the-iac-talent-barometer)
- Where David became an army officer (Royal Military Academy at Sandhurst)
- This episode's web page with transcript (riskinsights.com.au/the-assurance-show-28)
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).
In this episode we discuss how answering a few simple questions about your audience can improve your audit reporting.
These help make several report areas better:
- Scope and title
- Context
- Findings / Improvement opps
Link: This episode's web page with transcript (riskinsights.com.au/the-assurance-show-27)
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).
Note: This is a guest interview.
Carlos talks to us about what auditors should consider regarding cyber security and information security.
He shares his views on a range of issues including:
- Cyber security
- How cyber security and information security differ
- What auditors should focus on in planning and conducting cyber audits
Carlos is open to connecting with like-minded professionals.
You can reach out to him on LinkedIn.
Links
- Carlos Phoenix on LinkedIn (www.linkedin.com/in/carlos-phoenix)
- O.MG cables (mg.lol/blog/omg-cable)
- This episode's web page with transcript (riskinsights.com.au/the-assurance-show-26)
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).
In this episode we learn a bit about Yusuf, one of the co-hosts of the show.
He explains what he considers to be the highlights of his career.
Link: This episode's web page with transcript (riskinsights.com.au/the-assurance-show-25)
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).
In this episode we discuss why discovery exercises are becoming very useful for audits.
They help de-risk the conduct of audits, and the three main scenarios we use them for:
- Audit topic validation and overall audit planning
- Scoping, depth and deliverable
- Planning individual audits
Link: This episode's web page with transcript (riskinsights.com.au/the-assurance-show-24)
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).
In this episode we explore Principle 3 - Maximize the Benefits of the use of data within Internal Audit and Performance Audit.
Sub-principles3a: Sharing lessons amongst the team.
3b: Identifying other risks and opportunities.
3c: Continuous improvement.
Links
- The blog article where this principle was originally outlined (riskinsights.com.au/blog/audit-data-governance-5)
- This episode's web page with transcript (riskinsights.com.au/the-assurance-show-23)
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).
Note: This is a guest interview.
Josam Watson is the CRO of Tyme, a digital banking group that owns one of the world’s fastest growing digital banks.
He was previously Chief Audit Executive of a large credit union. Before that, he spent time in internal audit, risk consulting, external audit and in banking operations.
Josam talks to us about what he has learned working in various international markets.
He shares his views on a range of issues including:
- internal audit independence (spoiler: he thinks it is overplayed)
- how internal audit and risk functions have the same focus
- exerting influence in a positive way over organisational culture
- Internal audit creating value – by focusing on both performance and conformance
- why every auditor should have a data mindset, to find and solve business problems.
Josam enjoys networking with risk and assurance professionals.
You can reach out to him on LinkedIn.
Links
- Josam Watson on LinkedIn (www.linkedin.com/in/josam-watson-7a35024)
- Tyme, a digital banking group that owns one of the world's fastest growing digital banks
- This episode's web page with transcript (riskinsights.com.au/the-assurance-show-22)
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).
In this episode we discuss four (4) approaches to using data for internal audits and performance audits.
- Reporting only
- Process focused
- Hypothesis-based
- Exploratory (a.k.a. data driven or data led)
Links
- Related blog article (riskinsights.com.au/blog/4-audit-data-approaches)
- This episode's web page with transcript (riskinsights.com.au/the-assurance-show-21)
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).
In this episode we discuss six (6) sets of words and phrases that are commonly misused.
- Using data vs analytics
- Algorithm vs model
- Data owner vs data "custodian"
- AI vs machine learning
- Open source vs open data
- Big data vs big data
Link: This episode's web page with transcript (riskinsights.com.au/the-assurance-show-20)
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).
In this episode we learn a bit about Conor, one of the co-hosts of the show.
He explains what inspires him to promote the use of data for integrity and assurance.
Link: This episode's web page with transcript (riskinsights.com.au/the-assurance-show-19)
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).
In this episode we explain why auditors are looking for alternatives to traditional audit management software and audit analytics software.
Link: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.
In this episode we discuss a few key matters that auditors need to know relating to the use of AI and auditing AI.
3 key objectives:
- Bias and ethics.
- Providing sound decision making support.
- Maximizing the opportunities.
3 key considerations:
- Model accuracy.
- The quality of data.
- Deploying, controlling, security and change.
Link: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.
In this episode we explore five ideas for working with small datasets as part of internal audits or performance audits.
- Extend the timeframe
- Combine with proprietary data
- Combine with open data
- Scenario analysis
- Natural language processing (free text)
Links
- Episode 13 - Open Data for internal audit and performance audit
- 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.
In this episode we discuss how using data enables audit efficiency outcomes.
That is, if we think outside of the audit bubble and consider the broader organizational context (in the case of internal audit) or broader public sector context (in the case of performance audit), then using data for our audits can help improve efficiency.
Links
- The blog article where this was originally detailed
- 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.
In this episode we discuss:
- 3 perspectives that auditors should consider regarding data governance, and
- 3 considerations for auditors in implementing data governance within their functions/teams.
Links
- Controlling access to data within the audit team – open or closed?
- 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.
In this episode we discuss the use of Open Data for internal audit and performance audit.
Links
- The Open Data Handbook
- Google dataset search
- 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.
In this episode we discuss the use of open source software for internal audit and performance audit.
We bust 3 common open source myths:
- Security - that open source is less secure
- Skills - that open source software has smaller talent pools
- Quality - that open source has lower quality.
Links
- Blog: 3 open source myths that might be inhibiting your team's progress
- 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.
In this episode we discuss the evaluation of customer feedback/complaints and the use of customer feedback data, within internal audit and performance audit.
This includes:
- Auditing the customer feedback process
- Using the customer feedback content (data/information)
- Using customer feedback data for deeper, more effective, audit analytics.
Links
- Blog: why are auditors increasingly using complaints and customer feedback data?
- 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.
This is part 6 of a 6-part series.
In the first episode, we discussed the 5 most commonly cited data in audit challenges. In this episode, we discuss solutions to the 5th challenge - reporting (and timing).
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.
This is part 5 of a 6-part series.
In the first episode, we discussed the 5 most commonly cited data in audit challenges. In this episode, we discuss solutions to the 4th challenge - superficiality.
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.
This is part 4 of a 6-part series.
In the first episode, we discussed the 5 most commonly cited data in audit challenges. In this episode, we discuss solutions to the 3rd challenge - false positives.
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.
This is part 3 of a 6-part series.
In the first episode, we discussed the 5 most commonly cited data in audit challenges. In this episode, we discuss solutions to the 2nd challenge - low value.
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.
This is part 2 of a 6-part series.
In the first episode, we discussed the 5 most commonly cited data in audit challenges. In this episode, we discuss solutions to the 1st challenge - access to data.
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.
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.
In this episode we discuss going beyond the audit report. That is, the audit report is not necessarily the end point or final deliverable. There are a few things that we can do to go beyond that and increase the value that we provide.
This includes:
- Remedial actions - going beyond the initial remedial action (related blog article here).
- Using the report for maximum impact.
- Following up on reported items.
Links
- Blog article - going beyond the initial remedial action
- The Plain English Campaign
- 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.
In this episode we explore Open Access to data used within Internal Audit and Performance Audit teams, with focus on 8 exceptions that may necessitate a level of restriction.
In general, access should be as open as possible, as explained in the previous episode.
But there are 8 specific exceptions to consider, carefully:
- Cross-border concerns.
- Strict organizational data governance regimes.
- Highly sensitive data.
- The need to maintain Chinese walls.
- Very large audit teams.
- Where specific data is sensitive.
- If there is risk that data will be altered.
- Vulnerability - heightened security/cyber risk.
Links
- The blog article where this was originally outlined
- 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.
In this episode we explore why restricting access to data is less efficient and less effective than we intend it to be. That is, such “controls” create risk.
Links:
- The article about why more access to data can reduce risk
- 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.
In this episode we explore Principle 2 - Quality - for the use of data within Internal Audit and Performance Audit.
Sub-principles2a: Understand the audience and meet their needs.
2b: Focus on the audit objective.
2c: Ensure quality (a.k.a. quality assurance).
Links
- The blog article where this principle was originally outlined (riskinsights.com.au/blog/audit-data-governance-4)
- This episode's web page with transcript (riskinsights.com.au/the-assurance-show-1)
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).
In this episode we introduce the show:
- who it is for
- what we discuss
- the format / structure
- release schedule
- how listeners can get involved
This episode was recorded in October 2020, eight months after the first episode was released, then backdated to reflect as the first episode of the show.
We explain why we did this at the beginning of the episode.
Links
- This episode's web page with transcript (riskinsights.com.au/the-assurance-show-0)
- The contact form that we mentioned - for your feedback, ideas, questions, etc (riskinsights.com.au/contact).
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).