(Source-DataConsulting Ltd Author-Mr Robin Clough)
This year my presentation focused on the continued integration of data analytics software with GRC software, especially audit management software. ACL have led the way by integrating their analytics software with GRC software.
My presentation proposed that if data analytics is to be a key source of audit insights, it needs to be more closely linked to the software application that is used for planning and managing audit projects. Not only are ACL doing this but other GRC vendors are too.
At the end of 2014 Teammate announced an alliance with TopCAATs the Excel based audit analytics tool. This integration trend has been recognised by Gartner and they are currently forecasting that by 2020 at least 60% of audit management solution vendors will embed data analysis for auditors in their products or provide integration with analytics software, up from the current 25%. This is good news for those of us that are passionate about data analytics and wish for it to be seen as an essential area within audit.