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The ability to quickly identify key points in large quantities of data — and to illustrate those findings to assess audit-related impacts — gives auditors a key tool for transforming audit processes. Read more:

Time for all of us to up-level our data skills! We are already in a world where the ability to make sense of large amounts of data is a non-negotiable. For audit professionals especially! Check out my recent article on Internal Audit Next, appreciate you if you take a few minutes to read it! https://lnkd.in/eQVcPgaG #internalaudit #dataanalytics

🔍💻 𝐄𝐥𝐞𝐯𝐚𝐭𝐢𝐧𝐠 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐀𝐮𝐝𝐢𝐭 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝐃𝐚𝐭𝐚 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐬 📊🚀 𝘌𝘹𝘤𝘪𝘵𝘦𝘥 𝘵𝘰 𝘴𝘩𝘢𝘳𝘦 𝘪𝘯𝘴𝘪𝘨𝘩𝘵𝘴 𝘰𝘯 𝘵𝘩𝘦 𝘱𝘰𝘸𝘦𝘳𝘧𝘶𝘭 𝘴𝘺𝘯𝘦𝘳𝘨𝘺 𝘣𝘦𝘵𝘸𝘦𝘦𝘯 𝘐𝘯𝘵𝘦𝘳𝘯𝘢𝘭 𝘈𝘶𝘥𝘪𝘵 𝘢𝘯𝘥 𝘋𝘢𝘵𝘢 𝘈𝘯𝘢𝘭𝘺𝘵𝘪𝘤𝘴! 𝘓𝘦𝘷𝘦𝘳𝘢𝘨𝘪𝘯𝘨 𝘥𝘢𝘵𝘢 𝘢𝘯𝘢𝘭𝘺𝘵𝘪𝘤𝘴 𝘸𝘪𝘵𝘩𝘪𝘯 𝘪𝘯𝘵𝘦𝘳𝘯𝘢𝘭 𝘢𝘶𝘥𝘪𝘵 𝘱𝘳𝘰𝘤𝘦𝘴𝘴𝘦𝘴 𝘪𝘴 𝘢 𝘨𝘢𝘮𝘦-𝘤𝘩𝘢𝘯𝘨𝘦𝘳. 🌐💡   🔄💼 It's not just about compliance anymore; it's about driving value and insights that shape strategic decisions. 📈🔒 Here are a few reasons why integrating data analytics into internal audit practices is a must: 1️.  𝐄𝐧𝐡𝐚𝐧𝐜𝐞𝐝 𝐑𝐢𝐬𝐤 𝐈𝐝𝐞𝐧𝐭𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧: Data analytics allows us to sift through vast datasets, providing a more comprehensive view of potential risks. 🎯📉 By identifying patterns and anomalies, internal auditors can proactively address emerging risks. 2. 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲 𝐚𝐧𝐝 𝐏𝐫𝐞𝐜𝐢𝐬𝐢𝐨𝐧: Automation of routine tasks through data analytics streamlines the audit process, saving time and resources. ⏰💼 This allows internal audit teams to focus on more complex and strategic aspects, ensuring precision in their analyses. 3️. 𝐂𝐨𝐧𝐭𝐢𝐧𝐮𝐨𝐮𝐬 𝐌𝐨𝐧𝐢𝐭𝐨𝐫𝐢𝐧𝐠: Real-time data analytics enables continuous monitoring of key metrics and controls. 📊🔄 This proactive approach ensures timely detection of deviations, reducing the likelihood of major issues going unnoticed. 4️. 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐃𝐞𝐜𝐢𝐬𝐢𝐨𝐧 𝐒𝐮𝐩𝐩𝐨𝐫𝐭: By harnessing data analytics, internal auditors contribute to informed decision-making. 🤝🔍 They become strategic advisors, providing insights that go beyond compliance and add tangible value to the organization. Let's embrace the era of data-driven internal audit! 💪🔗 #InternalAudit #DataAnalytics #AuditInnovation #BusinessInsights #StrategicAdvisory #ContinuousImprovement

Where do Data Teams belong in 3 lines of Defense? 🤔   Data is the lifeblood of modern organizations, and protecting its integrity is crucial. The 3 Lines of Defense model offers a framework for robust data governance, but where do key data functions like data ownership, data management, and validation fit in?   1st Line: Ownership & Responsibility 🔑 Data owners hold primary responsibility for data and its risks, implementing controls, and ensuring data quality.   2nd Line: Support & Assurance 🧭 The data management office (DMO) empowers data owners by providing expertise and resources. The 2nd Line also holds the independent validation. DMO and Independent Validation act as a support system, ensuring design and operational effectiveness of data .   3rd Line: Independent Oversight ️ 🔍 Internal audit acts as the independent reviewer, assessing the overall effectiveness of data governance and controls. They provide assurance to stakeholders and identify potential gaps.   By placing these functions strategically, organizations can create a layered defense system for their data assets. This fosters collaboration, accountability, and ultimately, trustworthy data that fuels informed decision-making.   Do you think Data Management Office can also be a part of 1st Line? Let me know your thoughts below! #dataleadership #datagovernance 

Audit reports are a useful and powerful tool.

Struggling with data merging and cleaning? You're not alone. Many businesses spend countless hours consolidating data, delaying critical decision-making. 𝙀𝙭𝙘𝙚𝙡𝙞𝙣𝙨𝙞𝙜𝙝𝙩™ automates the consolidation of Excel files from various sources and context documents, transforming complex data preparation into an efficient process. With seamless data merging, contextual enrichment, and AI-powered data cleaning, your team can quickly generate actionable insights and make informed decisions without the hassle of manual data wrangling. Empower your team to focus on insights, not data preparation. Transform your operational workflow with Excelinsight™. #DataPreparation #AI #BusinessIntelligence #ExcelIntegration

🌟 New Blog Alert! 🌟 🦆 Get Your Ducks in a Row: Unlocking the Power of Audit Reports for Business Success 🦆 In our latest blog, we explore how audit reports can streamline data validation, making it quick and easy to identify inconsistencies and ensure accuracy. Discover common use cases, such as employee checks and managing data imports from multiple sources, and learn how audit reports can save you time and trouble. https://lnkd.in/gGVQHrY2 #DataValidation #AuditReports #BusinessSuccess #DataIntegrity #DataManagement

#auditing #dataanalytics #visualization "The ability to quickly identify key points in large quantities of data — and to illustrate those findings to assess audit-related impacts — gives auditors a key tool for transforming audit processes". https://lnkd.in/d_76qmbT

Every enterprise its operations, projects or procedures has a story to tell, from its data. We work for this purpose - to understand, organise, analyze and create useful insights of this data. We transform these insights into useful information and present them by producing user friendly visualizations, tailored for each company/ stakeholder, enabling them to take advantage and tell the story which will lead them to refreshed, optimised business strategies. Further to this, it is imperative in today's data-themed age to safeguard and protect this critical asset. Our team consists of specialised and experienced data analytics and technology risk professionals. Some of the degrees and knowledge that our team posseses are the following: B-Tech Information Systems, Finance and Audit BSc Business Management & Administration MSc International Business & Management Diploma Marine Engineering CIA CRISC CDPSE CISSP Professional Diploma in Data Analytics Several Certifications in Data Analysis and Big Data This knowledge is substantiated by our team having worked in various industries (i.e., retail, banking, telecommunications, automotive manufacturing, energy, shipping, logistics, Big Four and government entities) and in various positions from analyst to manager, over an accumulated period of between five to thirteen years. With the combination of these skills and experiences, we are here to transform your data, give insights, manage and control these metrics, advise on how to protect and safeguard your data and business, and communicate the story that will lead to your enterprise’s or project’s growth.

I was struggling with Data Integration and Reporting in my role as an Analyst This was a familiar scenario, when I was a financial analyst (once upon a time at Shell Oil), with a critical report due in a couple of days. I've received data from various departments—each in a different format. Some files are Excel spreadsheets with inconsistent naming conventions, others are CSV files with missing data fields, and a few even come from legacy systems that don’t easily integrate, so I had to make some manual entries. I felt the pressure, 😰 and the clock was ticking, given that data collating would take me a good bit of time. What could ideally be a straightforward task of analyzing the data turns, often, into an hours-long ordeal.  I spend at least 6-8 hours ⏰ just merging these files, cleaning up the missing data, and manually eliminating errors. By the time the data was finally ready for analysis, I was already exhausted, and the window for strategic thinking had narrowed significantly. The frustration 🤯 of spending more time preparing the data than actually analyzing it is all too common, and I faced it often. ⏩ Fast forward to today... and why looking into solving this problem seems so relevant and near to my heart. At AccelIQ.digital, we know when working with clients, that in today's fast-paced business environment, having accurate operational insights is crucial. However, many companies still face significant challenges in creating timely and accurate reports. The process is often labor-intensive, requiring IT teams to retrieve data and data analysts to manipulate it constantly. This not only consumes valuable time but also hinders the agility needed to respond efficiently to business needs. Integrating data from multiple #Excel files and systems is a common hurdle. Manual integration is complex and prone to errors. Different #data formats, naming conventions, and structures can complicate the process, leading to delays and inaccuracies in #reporting. What do you experience in your organization and what workarounds are required to do in your role? How much time do you invest in data preparation vs. analysis and reporting to provide timely decision-making?