Leveraging A&T for Internal Control & Fraud Prevention
In the current digital age, data is being collected in unprecedented variety and volume. The ability to quickly harness insights from these data can allow management to make data-driven decisions, and give organisations a competitive edge. Data analytics, the science of translating raw data into powerful insights, has seen widespread adoption in many industries.
While the current adoption of data analytics in the audit industry is still at the early stages, we have seen successful real use cases that revealed significant benefits of such implementations. For example in financially oriented audits, analytics and technology (A&T) can automate the reconciliation of data across several datasets such as general ledger, purchases, sales, inventory and payroll to identify anomalies and areas of high fraud risk.
Analytics is also increasingly being used to identify anomalies or red flags in operational and technology focused audits. This points resources and further efforts in the right direction, to dig deeper into an assessment of risks and impact to internal controls.
Against this backdrop, this presentation will share a simple framework outlining the key steps on how your organisation may embrace A&T to enhance your audit processes to achieve greater assurance. This presentation will also share a few simple real use cases on how data analytics has been deployed for audit.
In this session, we will discuss the following:
- What are the key trends in A&T and potential benefits in audit?
- Framework on how A&T may be applied to your processes.
- How can A&T be applied to audit and what is its value?
- How can you get started and what are the potential challenges?
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CPD Hours : 2
| SID Member: |
S$60.00 (excl. GST) |
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S$64.20 (incl. GST) |
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| Non-SID Member: |
S$90.00 (excl. GST) |
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S$96.30 (incl. GST) |
SID Corporate Member may utilise their complimentary vouchers.
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Online registration not available.