2011-03-01
DataConsulting, jointly with ACL, are pleased to announce what should be a great breakfast session in the heart of Leeds on April 5th. Its rare that we get these types of events outside of London so please make the most of the bacon butties and the sessions on offer! Details of the sessions are listed below. If you would like to attend then please click on the link and complete the registration details. There are also full details of event timing and location. Robin Clough, Managing Director, DataConsulting.
Click here to register
Audit Analytics: A Practical Guide
Robin Clough, ACDA, Managing Director, DataConsulting
The ability to analyse 100% of transactional data is a crucial ingredient to help your organisation obtain a higher level of business assurance. But how do you get to this point? Learn the practical steps to expand the use of data analysis across your business and the combination of people, process and technology needed to build success.
Customer Case Study: No more pins and needles – the auditor regains the true feeling of the data
Barry M Jones, Senior Credit Manager, Lloyds TSB Commercial Finance Limited
Lloyds TSB Commercial Finance, part of the Lloyds Banking Group, is a market leader in asset based lending, supporting over 10,000 clients from start-ups to multi-nationals. The audit team has been using ACL for a number of years to analyse third party data flows, providing independent assurance to the company in its efforts to evaluate the value in the security offered, prevent and detect fraud. However, as the customer base becomes larger and more complex, the need for deeper insight and more coverage has become a priority. An extended use of ACL allows the group to interrogate data and obtain quick analysis in a structured and controlled way, allowing the auditor to both regain the feel for the data and handle large volumes without any risk of corrupting the source, and merge large data files with other inputs to enrich outputs. This has allowed LTSBCF to correctly understand and recommend facilities for large organisations in full knowledge of the historic trends, setting expectations for subsequent monitoring. In these situations it has placed LTSBCF on a level playing field with the client ensuring that they have the capacity (tools) to fully review their data on which funds would be advanced. Barry’s team is also using ACL’s Audit Analytic Capability Model to create a roadmap to get management buy-in to the long-term benefits of continuous monitoring. By highlighting the benefits gained from monitoring operational risk for Basel and enabling ongoing internal control reviews, the framework will the help structure a business case for increasing analytic testing throughout the organisation. This is important to LTSBCF in maintaining operational efficiencies and a robust risk control process.
ACL Data Analytics in Action
Robin Clough, ACDA, Managing Director, DataConsulting
See examples of key analytical tests that will help you gain greater insight into targeted audit areas and identify potential risk. Learn from ACL about the top areas of testing to gain quick wins. Learn how to take the next steps towards expanding your use of data analysis and moving to an automated environment with centralised data access.
