Learn At Lunch - Transforming Audit with Practical Data Analytics Applications
The explosion of data with technology advancement is a significant disruptor for the internal audit function and auditors know that they could increase their impact by leveraging data. There is also expectation by board and senior management to up their game and apply data analytics to achieve greater assurance and provide more timely insights.
“Data analytics is becoming a game changer for the internal audit and we know we can leverage data to create value to our stakeholders. Even though there are advanced data analytics tools out there, simple tools, such as excel, can be used to implement data analytics concepts. If we equip ourselves with data analytics concepts and integrate data analytics into audits, we will find new possibilities to generate insights and value,” said Ms Josephine Liu, Senior Vice President, Business Audit, GIC.
A Learn At Lunch talk on “Transforming Audit with Practical Data Analytics Applications” was held on 12 March 2020 where GIC Internal Audit representatives, Josephine Liu and Ng Xiu Han, Data Scientist, shared how simple data analytics concepts can be applied with practical audit use cases and step by step live demonstration using tools like Excel.
Attended by about 30 internal audit professionals, the talk received positive feedback from the participants who found the demonstration “practical”, “informative” and “relevant”.
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