Virtual CPE Meeting on Data Analysis for Auditors using IDEA

Topic

Speaker

Saturday 18.07.2020

Need for adoption of Data Analytics by Auditors

CA. Deepjee Singhal

Getting Started with IDEA – Stages in the use of IDEA with Benefits on Usage

Data Analytics for Statutory Auditors: General Ledger Scrutiny made easy with IDEA – Estimating Audit Samples using Scientific ABC Sampling, Expense Trending to capture Outliers, Capturing Journal Entries with suspect narrations and more.

Data Analytics for Internal Auditors: Internal Audit Analytics of Procure to Pay – Detecting Duplicate Vendor Payments, Unauthorised Vendor Payments, Missing Payment Instruments, Delayed Vendor Payments and more

Data Analytics for Fraud Investigation: Apply the Benford’s Law – Last 2 Digits Test to detect skimming and circumvention of Expense outgoes just below a threshold approval limit in a Day Book

Generate a potential list of pattern matching duplicates on the Customer Name in a Customer Master dump.

Advanced Analytics in IDEA: Identifying High Risk Audit Groups by computing and interpreting a Correlation score to detect falling Sales with rising Incentive pay-outs to Selling Agencies product / market wise.

Discovery of ready duplicates, outliers, patterns, segmental performances on a Sales Day Book.

Mr. Jairam Rajshekar

Mr. Saurabh Patkar

Introduction to Learning Resources for IDEA – User Guides, Tutorials, Videos, Script Hub, Free Custom Function Downloads, AuditNet Premium Checklists within Passport

Full 30 day licence of IDEA software: Each participant who registers will be given a 30-day fully functional License copy of IDEA Software v 11.1 from CaseWare IDEA Inc., Canada to learn, explore and apply IDEA Software to engagements from their respective work environment