Training Course on Data analytics for audit professionals

Program brief

Data analytics is the process of examining data sets in order to draw conclusions about the information they contain, increasingly with the aid of specialized systems and software. With the increasing volume of data in business today, data analytics can be used as an audit technique to better understand and analyze large volumes of data. Equipped with a more in-depth knowledge of the entity’s business, the auditor is able to focus on items of greater audit interest.

Recommended For;

• External and internal audit professionals.
• Finance professionals
• Consultants looking to enhance their data analytics skills.

Duration

5-Days

Course Outline:

Introduction to Data Analytics in Auditing:

• Importance of data analysis in modern auditing.
• Overview of audit data analytics frameworks.
• Descriptive analytics frameworks
• Diagnostics analytics framework
• Predictive analytics framework
• Prescriptive analytics framework
• Continues audit framework
• Benefits of integrating data analysis into audit procedures.

Data Analytics Tools for Auditors:

• Overview of tools (Excel, ACL, IDEA, Power BI, Python, etc.).
• Basic to advanced functionalities in Excel for auditing (e.g., pivot tables, conditional formatting, and data filtering).
• Introduction to audit-specific tools like ACL and IDEA.

Data Collection and Preparation:

• Understanding data sources in auditing (financial systems, ERP systems).
• Cleaning and preparing data for analysis.
• Dealing with incomplete or inaccurate data.

Fraud Detection through Data Analytics:

• Identifying red flags and fraud indicators.
• Use of ratio analysis, and other techniques.

Audit Sampling with Data Analytics:

• Using data analytics to improve sampling techniques.
• Statistical vs. non-statistical sampling in audits.
• Stratified sampling for more effective audit testing.

Audit Reporting with Data Visualization:

• Presenting audit findings with visual aids (charts, graphs, dashboards).
• Tools for visualization: Power BI, Tableau, Excel.
• Communicating data-driven insights in audit reports.

General remarks

• Customizable courses are available to address the specific needs of your organization.
• The participant must be conversant in English
• Participants who successfully complete this course will receive a certificate of completion from Lenol Development Center.
• The course fee for onsite training includes facilitation training materials, tea break and lunch.
• Accommodation and airport pick up are made upon request
• For any inquiries reach us through info@lenoldevelopmentcenter.com or +254 710 314 746
• Payment should be made to our bank account before the start of training