Advanced Analytics
(our most popular course)
Are you aware of the 5 types
of Analytical Procedures (AP), and each ones Pro’s and Con’s (hint: ratio
analysis is of little value). In this course you will learn all 5 types of APs
with an emphasis on the BEST ONE … regression analysis. Regression analysis is
supported by the IIA (Practice Advisory 2320-1), the AICPA (SAS 56) and the
Yellow Book. And regression IS ON YOUR LAPTOP!!
Let’s “raise the bar” in your
audit shop. Audit research shows that APs are the cheapest, AND MOST EFFECTIVE
audit technique … with the biggest “value added” to the auditee. Additionally,
APs are the #1 fraud finding technique. Savvy auditors use regression to figure
out “where to audit” (let the data talk to you) and “if to audit.”
The analysis of 9,000 audit
applications of regression found that:
- Your application does
not, at all, need to be complex (1, or at most 2 independent variables seems
sufficient) and
- You do get high
r-squares … which can lead to REDUCTIONS OF SCOPE.
APs provide 1/2 of the 1-2
punch of Continuous Control Monitoring (we’ll learn how to management construct
dashboards in Visual Basic.). These dashboards provide the incentive, and tool
set, for business unit managers to willingly buy-in to Control Self Assessment
too!
Here’s some GOOD NEWS: we
have found that your external auditors will start to use the analytics, as
evidentiary matter. That’s a great way to hold costs down!
THIS CLASS
IS 100% HANDS-ON, WITH SEVERAL COMPUTERIZED CASES. WE CAN TEACH BOTH OFFICE
97-2003 AND 2007. | 
