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The Art of Gathering and Validating Data for Analytics

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Date(s): Mar 24, 2022
Time: 12:30PM - 4:30PM
Registration Fee: $149.00
Cancellation Date: Mar 17, 2022
Location: Online

Course Description

Evidence gathering is a critical step in the internal audit process. As our audit teams gain agility our focus turns toward data analytics. Improving our data gathering and validation processes are key to building meaningful analytics. For some audit teams getting the data is half the battle.


Potential CPE Credits: 4.0
Technical Hours: This class meets 4.0 CPE credits of technical training in compliance with Texas Admin. Code Rule 523.102.

Instruction Type: Live
Experience Level:
Category: Auditing

Course Objectives

Upon completion of this course, participants will be able to:

  • Explore common data gathering techniques.

  • Identify where data exists and how (and when) to request it.

  • Recognize the importance of validating data before starting analysis and methods to validate and deal with exceptions and outliers.

  • Discuss the key steps in data analysis.

  • Describe the key differences between continuous monitoring and continuous auditing.

This program is for audit leaders and auditors looking for a basic understanding of data gathering, validation and analysis techniques.

Course Topics

Data Gathering Techniques

  • Common terms and their business meaning.

  • Good practices on how to set up a data and information request process between IA and IT.

  • Data location specific considerations.

  • Considerations regarding shadow IT (end-users).

  • Tips for communicating with data scientists and stewards.

  • Differences in approach by organizational size.

  • Differences in approach by IA size and skills.

Data Validation

  • Ensuring accuracy and completeness.

  • Checking for duplicates.

  • Looking of other data exceptions or anomalies.

  • Differences in approach by organizational size.

  • Differences in approach by IA size and skills.

Data Analysis Primer

  • Steps to conduct data analysis.

  • Selection of population or sample.

  • Tour of common characteristics amongst tools.

  • Tips for ensuring integrity is maintained during the analysis process.

  • Methods of confirming validity of analysis results.

  • Reliance of continuous monitoring efforts by the business, IT, or a third party provider.

  • Using analytics for continuous auditing.

  • Using analytics for continuous assurance

  • Differences in approach by organizational size.

  • Differences in approach by IA size and skills.


Instructors

Megan Hall

Megan is currently the Chief Information Officer for the First National Bank of Paragould. Prior to becoming the CIO, Megan was the Director of Internal Audit at Simmons Bank, where she was primarily responsible for IT Auditing, Audit Data Analytics and Innovation, Auditor Development, and Quality Assurance. Previous responsibilities included developing policies, processes, standards, and work programs for operational, compliance, branch and financial audits and overseeing audit projects. She has led Simmons Bank in preparing for the transition from a community bank to a regional banking organization (over $10 Billion in total assets) and transitioned the department from a fully outsourced model to a co-sourced function. She has been heavily involved in new technology implementation, both within the audit department and across the organization, and developed a risk assessment tool to enable Internal Audit to use risk-based approaches for auditing technology implementations and has audit and management experience with significant mergers and acquisitions activities.

Prior to joining Simmons Bank, Megan worked for the Office of the Comptroller of the Currency, where she served as a commissioned National Bank Examiner and participated and oversaw bank examinations for national banks of all sizes. She served as a Training Team Leader and Training Team Assistant for the OCC, delivering an intensive training curriculum to new hires.


Additional Information

TAC Rule 523.142(g) requires the CPE Sponsor to monitor individual attendance and assign the correct number of CPE credits. Participants will be asked to document their time of arrival and departure in compliance with this Rule. Additionally, attendance will be monitored throughout the day and CPE certificates will reflect actual attendance of each participant.

To see answers to our Frequently Asked Questions, visit http://www.sao.texas.gov/training/faq.html.


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