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Milestone 1

Review the past audit workpapers and reports, compared to the future audit planning: identify those audit areas that are popular and for which data analytics would provide added value:

  • Help auditors to go quicker
  • Help auditors to see high-level KPIs
  • Help auditors to choose transactions for sampling efficiently
  • Map the areas to the internal control framework of your company

Milestone 2

Design in PPT some proposed “standardised” PBI reports, based on the analysis in 1/ and then discuss these with experts in each area from audit, in order to get their input

Milestone 3

Review the audit planning and schedule which audits the PBI reports could be used on. Then plan backwards 7 weeks from start of each audit planning first day:

  • Defining which data needs to be obtained
  • Obtaining the data
  • Building the PBI "standard" reports that have been identified
  • Identifying how to present the standard reports side-by-side to the relevant part of the Leidos internal control framework
  • Identifying the structure of PPT reports that will present the PBI reports to the audit lead and manager at the start of the audit: (sections could include)
  • description of the PBI dashboard: what it means and how to read it
  • risks identified mapping to internal control violations tips on how
  • the data can be used during audit fieldwork: for example, suggested samples, expected supporting documentation

Milestone 4

Before end of year, present audit planning with PBI reports proposed for each audit to the audit team

Milestone 5

Plan meetings for each audit:

  • Day 1 of each audit planning with the audit manager and audit lead: present the PBI standard report and also a PPT of the risk areas identified from each PBI standard report
  • After 1 week of audit planning: check-in with the audit team to see if there are any extra areas that would be good for analysis
  • After the audit fieldwork: get feedback from the auditors on whether or not they have been able to use the findings

Milestone 6

During the year: build-in some python capability:

  • Review of supplier names using SPACY
  • Automated look-up of supplier names on Google
  • Checking of supplier VAT codes on government websites
  • Analysis of any data sources that are not in the business warehouse: could be based on a review of the data universe.

Ways That Aufinia Could Help Through Coaching:

  • 1/ Reviewing of past audit papers compared to internal control framework and suggestions of good topics for PBI standardised reports/ brainstorming of good data analytics areas, and also based on overview of the data universe
  • 2/ Helping to design standardised PBI reports that are easy to understand
  • 3/ Helping to design PPT reports to faciliate discussion with the audit lead/ managers
  • 4/ Assisting in meetings that present the PPTs to the auditor manager and lead auditor at beginning of audit planning phase for each audit
  • 5/ Assisting in meetings for feedback from the auditors and helping to design improvement tasks
  • 6/ Technical assistance for PBI
  • 7/ Training and guidance on creation of python scripts
  • 8/ Creation of training documentation for auditors about how to use the standard PBI reports
  • 9/ Suggestions for overall improvement of PBI reports: technical improvement brainstorming, including maximizing of the current ETL to the datawarehouse.

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