Internal Audit

21st Century Auditor

Today’s Internal Auditor has some important obligations to the organization; namely, to provide insight into the current state of affairs, have a clear understanding of what happened in the past, and to deliver intelligent opinions to address future organizational risks. Meeting this trifecta of responsibilities will become the industry standard as the audit profession continues to move away from tedious sampling techniques and toward the widespread adoption of data analysis and continuous controls monitoring technologies.

Modern-day Internal Audit departments consist of personnel from diverse backgrounds such as finance,

accounting and IT, and require technology that is easy to operate and complements their domain expertise. CaseWare Analytics solutions are designed to help you gain optimal insight into your business through user-friendly technology which requires no programming knowledge. Our solutions are compatible with your existing cadre of audit technologies such as MS® Excel, MS® Access, IDEA®, ACL™ and Arbutus™.

Audit Technology Benefits

• One platform for the entire audit team to share data analysis insights in real-time
• Automated and continuous auditing of critical internal controls to help improve the effectiveness of your control environment
• Share findings across your business to get your audit recommendations into operations
• Purpose-built analytics that require no prior programming knowledge
• Analyse 100% of data regardless of variety, volume or location
• Improve operations, compliance initiatives and internal audit reputation

IDEA Data Analysis

IDEA® is a powerful and user-friendly data analysis tool designed to help auditors, accountants and other finance professionals perform data analysis quickly to help improve audits and identify control breakdowns.  IDEA® allows you to analyse 100% of your data, guarantees data integrity and provides easy analysis with over 100 audit-relevant tasks.

Collaborative Analytics

IDEA Server is a collaborative analytics platform that allows for faster processing of larger data sets, by using server based processing for data analysis, instead of the traditional desk-top. The result is quicker analysis. Users must sign on with a separate user ID and password adding an extra layer of security to your data. Permissions can be set up to allow access to all users or only specific personnel to ensure confidential information remains private. With one platform to house the disparate data drawn from multiple systems along with the accompanying analytics, the audit team can make synchronized decisions based on accurate information. Audit know-how and expertise can now be kept long term in a central repository.

Continuous Auditing & Monitoring

The move from a process of periodic auditing to one that is current allows Internal Audit to meet the increasing expectations from audit committees and executive management for insight that is timely and subsequently of higher value. Data feeds and analysis can be automated and repeated as needed allowing for more time to analyze significant risks. Business executives can become privy to insights that can improve their decision making and increase the overall success of the organization. The solution automatically detects errors or abuses across multiple business systems and delivers proactive alerts to business stakeholders throughout the organization. The business benefits from a sustainable feedback mechanism to improve both controls and the associated business processes.

Learn how to use IDEA to do continuous auditing and monitoring – to schedule a demo, e-mail info@pierreconsulting.net