Testimonial: Using IDEA to verify COVID payments eligibility

INDUSTRY

As part of our Ask the Auditor programme, we recently spoke with Lya, Computer Auditor for a Welsh Local Authority about how they’ve been using IDEA to verifying COVID-19 related payments over the past twelve months.

In order to limit the economic damage of sector-wide forced closures during the COVID-19 coronavirus pandemic, the UK government…

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Internal Audit Still Lags in Use of Data Analytics

INDUSTRY

2020 has been a difficult year for many. With the recent economic downturn threatening the very existence of businesses across the country, senior management in countless businesses are looking to Internal Audit to help quickly identify emerging risks and share valuable insights learned from audits. Despite this increased demand, however, Internal Audit departments are still…

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5 Benefits of Adopting Data Analytics in Internal Audit

INDUSTRY

Data analytics is used to analyse data and, among other reasons, find transactions that don’t fit normal patterns. These transactions may have a higher chance of causing a material misstatement or even indicate fraud, and data analytics solutions can be so powerful that some auditors worry they’ll be replaced by machines. But data analytics tools…

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Audit Trends Report 2020

INDUSTRY

Read no further than any business blog, social feed, or analyst report, and it’s plain to see technology is disrupting business, around the globe. The same is true in internal audit, where data analytics, AI and machine learning, and big data have all presented new challenges and possibilities for the profession.   How are auditors…

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Why You Need to Prepare Your Data

INDUSTRY

“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.”…

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5 ethics principles for Data Analytsts

INDUSTRY

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…

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Dark data: You have the data, but do you need it?

INDUSTRY

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…

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