Standard Data Analytics in Risk, Compliance and Audit™

Program Overview

This program is part of the Applied Data Analytics in Risk, Compliance and Audit™ series created and delivered by MBS Academy. The program covers the fundamentals of Data Analytics that Audit and Risk professionals and teams can apply in their everyday work.

During the program participants will learn how to identify opportunities for Data Analytics in their everyday activities; how to select the best tool and approach to use in different circumstances; what is the step-by-step methodology to incorporate Data Analytics in audit reviews and to identify new risks.

The program contains a significant element of gamification and practical work. Every 15-20 mins there is a gamified activity, designed to reinforce the concepts that have been covered and improve retention after completion.

The last part of the program includes exercises, with, on how to analyse Payroll and Purchasing datasets. All datasets and step-by-step instructions will be provided at the beginning of the program. Participants will be allowed to keep these and use them as a blueprint for real-life reviews they may be performing.

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Learning Outcomes

Upon completion of this program, participants will:

  • Identify opportunities to use Data Analytics in reviews and projects
  • Apply a step-by-step process for using Data Analytics in each specific case
  • Understand the tools available in the market and select the most appropriate tool to use in each case
  • Apply and modify, if necessary, a set of analytics routines provided in the course to achieve specific objectives
  • Peform analytics on Payroll and Procurement datasets

Intended Audience

  • Chief Risk Officers
  • Chief Audit Executives
  • External Auditors
  • CFOs
  • Internal audit directors
  • Risk managers
  • Internal auditors
  • Assurance professionals
  • Risk and governance professionals
  • Internal audit managers and supervisors
  • Finance professionals

Program Level and Pre-requisites for Attending

Foundation level, no pre-requisites

 

Program Duration

Online – 4 hrs 15 mins

  • 2 x 2 hrs + 15 min break
 

Number of Attendees

Maximum 30 attendees

 

Training Methodology

A distinguishing feature of our programs is their practical aspect and the gamification of content and delivery. At the end of each module there is a practical exercise designed to reinforce the concepts of the module and to give participants a chance to “get their hands dirty”. The exercises are either scenarios where participants work in groups or individual tasks executed within a specially prepared software environment.

At the same time, gamification is extensively used throughout all of the content. The gamification is done on two levels: full course and individual modules. The full course gamification is based on a gamified storyline across all modules. It increases the levels of engagement, by introducing a mild competitive element, while providing consistent environment for participants.

On the other hand, small gaming activities are present in all modules. Examples include crosswords – based on the content; games like “Hangman” – using terms from the training program, etc. Their purpose is to reinforce learning, while simultaneously applying the principles of Neuropsychology and letting the brain rest every 15-20 mins for a short period of time. The 15-20-minute rests are key to efficient learning, since 20 minutes is the maximum the hippocampus, a part of the brain that takes in learning, can hold.

Program Outline

  • Introduction
  • Overview
  • Benefits and Limitations
  • Gamified Exercise
  • Planning Standard Data Analytics Tests
  • Gamified Exercise
  • Specific Analytical Techniques
  • Gamified Activity

  • Examples of Standard Data Analytics
  • Gamified Exercise
  • Practical Work:
  • Investigating Payroll
  • Investigating Purchasing
  • Program Review, Q&A, Comments

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