5 Benefits of Adopting Data Analytics in Internal Audit
Audit Trends Report 2020
How do you use IDEA Data Analysis? – Technology Usage Survey 2019
6 Essential Steps to Implementing Data Analytics in Internal Audit
Data about your organization can be a powerful tool, and internal auditors are increasingly taking advantage of a variety of technologies like IDEA Data Analysis to incorporate data analytics in their audits. Yet, the use of data analytics can easily go awry if the insights that they bring to the decision-making process are not properly…
Read MoreWhy You Need to Prepare Your Data
“When you’re cooking, preparation is an essential step. Ingredients need to be collected, peeled, marinated and put where you will be able to reach them when the oil is hot or the oven reaches the right temperature,” says Data Informed guest author, Bernard Marr, “this is also true in any business analytics and intelligence-driven process.”…
Read More5 ethics principles for Data Analytsts
Big Data is big. That much is obvious. What might not be so obvious is just how powerful and error prone it can also be. Susan Etlinger of Altimeter Group noted in her 2014 TED talk that “we can process exabytes of data at lightning speed, which also means we have the potential to make…
Read MoreDark data: You have the data, but do you need it?
Big Data equals big opportunities for organisations of all sizes. In fact, organisations that utilise data analytics in their decision-making process have a 5-6% better output, on average, than those who rely on experience and intuition. Lack of awareness has a part to play for this figure not being higher. The common misconception is that Data analytics is only suitable…
Read MoreThere is a 99% chance of an auditor being sued if fraud is not detected
The UK government last year estimated that the level of fraud in government spending represented just 0.02% of its total expenditure. Excluding tax credit and benefit fraud, the government detected between £27.6m and £72.9m in fraud out of its £306bn total expenditure in 2014/15. The National Audit Office’s fraud landscape review, however, found that there is…
Read MoreRedefining the Banking and Financial Industry
Big Data has, in recent years, become an ever more important part of how businesses operate in a number of different industries, yet despite this, the banking and finance industry (“FI”) has been slow to fully embrace the multitude of technologies available to them. Thankfully, there are signs that the industry is slowly starting to…
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