Remote auditing and data analytics services - UAE - Dubai
- Category: Internal audit services
- Published: Tuesday, 30 September 2014 22:10
- Written by Abdelhamid M. (ACPA)
Remote auditing and data analytics services
Remote auditing and data analytics is a process by which auditors couple information and communication technology with data analytics to assess the accuracy of financial data and internal controls, gather electronic evidence, and interact with clients, all without the need to be physically present.
The remote auditing has the advantage of assessing risk and reliability on a real-time or on-demand basis. One key benefit is the change in attention span of the organization.
The remote auditing and data analytics is built on a three-function Monitor-Evidence-Interface approach. Beginning with analytics, a continuous monitoring platform routinely passes transactional data through a series of rule-based tests and statistical models and alerts the management when an abnormal event, high-risk transaction, or control failure occurs.
Is this your current state?
- You have a heightened demand for faster, better decisions and for improved, but cost-effective risk management
- You want a rising pressures on internal audit to provide timely assurance to stakeholders
- You want greater efforts to align internal audit activities with management’s strategic business goals
- You want to improve and increase the effectiveness and efficiency of the internal audit function to add value to your organisation
- Your internal audit function has insufficient resource to cover the geographical spread of your organisation
How we can support you:
The remote auditing and data analytics are delivered by multidisciplinary teams to help clients assess, design, implement, and evaluate financial accounting systems and processes focusing on fraud and misconduct prevention and performance improvement.
Remote auditing and data analytics process will be as follows
- Define audit objective
- Determine what types of analytics are relevant in achieving the audit objective(s)
- Determine data-relevant IT systems for audit subject (process)
- Assess availability and quality of data
- Acquire data (extract, transform, load process)
- Design and develop (e.g., script, program, etc.) analytics
- Determine definition of “exception”
- Run analytics and perform initial validation
- Revise and re-run analytics as necessary
- Validate results of analytics with business owners
- Research, follow-up and determine root cause of identified exceptions
- Report findings and recommendations to business owners and management
- Evaluate analytics for potentially repetitive processes
- Supporting internal audit functions with our audit management solution called "AuditingControl" developed by Mr. Abdelhamid M. (ACPA) to enhance and support their work
For any inquiries you can chat with us using WhatsApp or Telegram or fill the following form and we will get back to you as soon as possible:
Mobile: +971- 050-7948028