Course Detail(IA126 : Data Analysis in Audit and Investigation: Identifying Red Flags)

UTAP Funding

IA126 : Data Analysis in Audit and Investigation: Identifying Red Flags

7.00 CPE Hours (Others)
Classroom

Programme Objective

With today’s intensive use of integrated systems storing gigantic amount of financial and non-financial data, audit and investigative review can hardly be conducted without data and digital analysis. Valuable evidence may be staring in the face of the auditor and not be picked up if he or she does not know how to mine and connect seemingly unrelated data to make sense out of it. Irreversible trend of Big Data and pressure to remain competitive have compelled organizations to make use of data analysis and continuous data monitoring to understand business trends and consumer behaviours, as well as to detect potential fraud. Knowing how to pick up the data profile and pattern in data analysis to identify red flags have become the indispensable skill of today’s auditors.
   

Knowing what tools are available to acquire digital evidence that is admissible to court and to use key word search in pile of emails and electronic files certainly is a must have skill for today’s auditors. This course will expose the participants to various data analysis techniques, tools and templates in the conduct of an audit or investigation.
 

Programme Outline


1.Data Analysis - Overview

  • Understand system and ERP – Concept & Structure
  • Area of concerns - System Security, Data Integrity, Data Analysis
  • Data Analysis in auditing vs Data Analysis in Investigation
  • Two main type of data analysis (data mining)

i.Quantitative – Relationship, Fluctuation, Inference, profiling
ii.Qualitative – Contextual, Match, Inference
 
2.4 steps systematic approach in data analysis

  • Set analysis objectives – what you want to test
  • Get verified data – Get the correct data set 
  • Analyze the data – Do the test procedures
  • Confirm the result – Type 1 or Type 2 error

 
3.Common quantitative data analysis procedures 

  • Filter / Sort/ Join / Append/ Pivot/ Trend / Regression / Ratio
  • Vlookup/ Eye-lookup/ Grouping/ Summarization/ Stratification

 
4.Performing common data analysis tests in auditing/ investigation

  • Payroll bank account tests
  • Gap analysis (PO, DO, Inv, receipts)
  • Invoices without PO, GRN
  • GRN without PO
  • Duplicate analysis (PO, Inv, bank account, JV)
  • Fuzzy duplicate analysis (vendor address/ contact no)
  • Transaction above limit (by person, by location)
  • Transaction on Sunday/ Saturday/ After hours
  • Inventory unit cost/ quantity below 0
  • AR/ Inventory turnover days
  • Show changes

 
5.Performing common data Profiling and fraud investigation

  • Frequency tests (by person, time, group)
  • Intensity tests (most used value / least used value)
  • High risk tests (round amounts/ exact multiples)
  • Relative Size Factor (% second highest/ highest)
  • Regression and Correlation tests (Travel days vs Amount claim)
  • Benford law analysis
  • GEL test
  • And many more

 
6.Performing contextual qualitative data search

  • Key words
  • Content (file, picture)
  • Behavior Profile
  • Online presence & Social media

 
7.Data analysis tool

  • Basic tools vs Vendor-specific tools
  • Monitoring software
  • Digital forensic acquisition
  • Social engineering

 
8.Before Data analysis

  • Critical thinking
  • Logical reasoning
  • Accounting and Commercial understanding
  • Behavior science

 
9.Beyond Data analysis and Digital Forensic – What Next?

  • Finding confirmation
  • Dig and determine root cause
  • Develop Hypothesis
  • Move on to interview and interrogation


Training Methodology      

Presentation, group discussion, case study. Multimedia and template sharing, quiz / knowledge check

Closing Date for Registration

1 week before programme or until full enrolment

Intended For

Financial controllers, procurement managers and human resource managers whose job entail evaluation of documents such as tenders, quotation, agreement, CV, expense claims, etc. Internal audit managers or directors who want to improve audit team effectiveness in audit or investigation via improved document review and data analysis. Internal auditors, forensic auditors and audit supervisors who want to learn how to effectively identify exceptions within any documents and data sets. Internal control coordinators and professionals whose jobs require reviewing of documents and evaluating electronic data. External auditors who are required to perform substantive testing.

Competency Mapping

Others = 7.00 Hours

Schedule & Fees

Date & Time

11 Aug 2018 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Kent Hoh

Date & Time

03 Mar 2018 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Kent Hoh

Date & Time

18 Nov 2017 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Kent Hoh

Testimonial

Funding

1] NTUC Union Training Assistance Programme (UTAP)
UTAP (Union Training Assistance Programme) is an individual skills upgrading account for NTUC members. NTUC member gets to enjoy UTAP funding 50% of the unfunded course fee capped at $250 every year. This excludes miscellaneous fees such as GST and registration fee etc.
 
This course is approved for UTAP support for intakes conducted between 01 April 2019 – 31 March 2020.
 
As UTAP is given on calendar year basis, and calculated based on year of training taken, it cannot be accumulated.

  • Maintained paid-up NTUC membership before course, throughout course duration and at the point of claim and;
  • Course by training provider must be supported under UTAP and training must commence within the supported period and;
  • Unfunded course fee must not be fully sponsored by company or other types of funding
  • Unfunded course fee must be S$20.00 and above, and;
  • Member must achieve a minimum of 75% attendance for each application and sat for all prescribed examination(s), if any and;
  • UTAP application must be made within 6 months after course ends.


To submit for UTAP claims, please visit http://skillsupgrade.ntuc.org.sg/. Terms and conditions apply.
 
Should you have queries on the funding scheme, you can email to UTAP@e2i.com.sg or call NTUC Membership Hotline at 6213-8008

 

Programme Facilitator(s)


Kent Hoh

Kent Hoh is a prolific trainer in audit, fraud investigation, corporate governance and personal effectiveness. Kent Hoh has wide-ranging experience in leading compliance and audit functions in Asia Pacific as well as forensic investigation team globally.  He conducted various successful projects in Singapore, Indonesia, Malaysia, India, China, Japan, Australia, New Zealand, Brazil, Hungary, Poland, etc. Several of the projects involved multi-million dollars’ scheme and made headlines locally.


Kent holds an MBA, Bachelor of Law (Hons), and a Bachelor of Accounting (Hons).   He is a Certified Fraud Examiner (CFE).  He also passed the qualifications exams of the UK Chartered Secretary and Administrator (ICSA), Malaysian Institute of Certified Public Accountants (MICPA) and Certified Information System Auditor (CISA).

Kent Hoh has been an active trainer for several accounting and audit associations in South East Asia. He is also a frequent speaker for several universities in Shanghai, Nanjing and Hangzhou, China. Kent Hoh is currently serving as Vice President of Internal Audit in a company listed on SGX.
 

Programme Objective

With today’s intensive use of integrated systems storing gigantic amount of financial and non-financial data, audit and investigative review can hardly be conducted without data and digital analysis. Valuable evidence may be staring in the face of the auditor and not be picked up if he or she does not know how to mine and connect seemingly unrelated data to make sense out of it. Irreversible trend of Big Data and pressure to remain competitive have compelled organizations to make use of data analysis and continuous data monitoring to understand business trends and consumer behaviours, as well as to detect potential fraud. Knowing how to pick up the data profile and pattern in data analysis to identify red flags have become the indispensable skill of today’s auditors.
   

Knowing what tools are available to acquire digital evidence that is admissible to court and to use key word search in pile of emails and electronic files certainly is a must have skill for today’s auditors. This course will expose the participants to various data analysis techniques, tools and templates in the conduct of an audit or investigation.
 

Programme Outline


1.Data Analysis - Overview

  • Understand system and ERP – Concept & Structure
  • Area of concerns - System Security, Data Integrity, Data Analysis
  • Data Analysis in auditing vs Data Analysis in Investigation
  • Two main type of data analysis (data mining)

i.Quantitative – Relationship, Fluctuation, Inference, profiling
ii.Qualitative – Contextual, Match, Inference
 
2.4 steps systematic approach in data analysis

  • Set analysis objectives – what you want to test
  • Get verified data – Get the correct data set 
  • Analyze the data – Do the test procedures
  • Confirm the result – Type 1 or Type 2 error

 
3.Common quantitative data analysis procedures 

  • Filter / Sort/ Join / Append/ Pivot/ Trend / Regression / Ratio
  • Vlookup/ Eye-lookup/ Grouping/ Summarization/ Stratification

 
4.Performing common data analysis tests in auditing/ investigation

  • Payroll bank account tests
  • Gap analysis (PO, DO, Inv, receipts)
  • Invoices without PO, GRN
  • GRN without PO
  • Duplicate analysis (PO, Inv, bank account, JV)
  • Fuzzy duplicate analysis (vendor address/ contact no)
  • Transaction above limit (by person, by location)
  • Transaction on Sunday/ Saturday/ After hours
  • Inventory unit cost/ quantity below 0
  • AR/ Inventory turnover days
  • Show changes

 
5.Performing common data Profiling and fraud investigation

  • Frequency tests (by person, time, group)
  • Intensity tests (most used value / least used value)
  • High risk tests (round amounts/ exact multiples)
  • Relative Size Factor (% second highest/ highest)
  • Regression and Correlation tests (Travel days vs Amount claim)
  • Benford law analysis
  • GEL test
  • And many more

 
6.Performing contextual qualitative data search

  • Key words
  • Content (file, picture)
  • Behavior Profile
  • Online presence & Social media

 
7.Data analysis tool

  • Basic tools vs Vendor-specific tools
  • Monitoring software
  • Digital forensic acquisition
  • Social engineering

 
8.Before Data analysis

  • Critical thinking
  • Logical reasoning
  • Accounting and Commercial understanding
  • Behavior science

 
9.Beyond Data analysis and Digital Forensic – What Next?

  • Finding confirmation
  • Dig and determine root cause
  • Develop Hypothesis
  • Move on to interview and interrogation


Training Methodology      

Presentation, group discussion, case study. Multimedia and template sharing, quiz / knowledge check

Closing Date for Registration

1 week before programme or until full enrolment

Intended For

Financial controllers, procurement managers and human resource managers whose job entail evaluation of documents such as tenders, quotation, agreement, CV, expense claims, etc. Internal audit managers or directors who want to improve audit team effectiveness in audit or investigation via improved document review and data analysis. Internal auditors, forensic auditors and audit supervisors who want to learn how to effectively identify exceptions within any documents and data sets. Internal control coordinators and professionals whose jobs require reviewing of documents and evaluating electronic data. External auditors who are required to perform substantive testing.

Competency Mapping

Others = 7.00 Hours

Programme Facilitator(s)

Kent Hoh

Kent Hoh is a prolific trainer in audit, fraud investigation, corporate governance and personal effectiveness. Kent Hoh has wide-ranging experience in leading compliance and audit functions in Asia Pacific as well as forensic investigation team globally.  He conducted various successful projects in Singapore, Indonesia, Malaysia, India, China, Japan, Australia, New Zealand, Brazil, Hungary, Poland, etc. Several of the projects involved multi-million dollars’ scheme and made headlines locally.


Kent holds an MBA, Bachelor of Law (Hons), and a Bachelor of Accounting (Hons).   He is a Certified Fraud Examiner (CFE).  He also passed the qualifications exams of the UK Chartered Secretary and Administrator (ICSA), Malaysian Institute of Certified Public Accountants (MICPA) and Certified Information System Auditor (CISA).

Kent Hoh has been an active trainer for several accounting and audit associations in South East Asia. He is also a frequent speaker for several universities in Shanghai, Nanjing and Hangzhou, China. Kent Hoh is currently serving as Vice President of Internal Audit in a company listed on SGX.
 

Upcoming Schedule

Registration is closed

Date & Time

11 Aug 2018 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 329.56
For Non-Members: $ 398.04

Programme Facilitator(s)

Kent Hoh

Venue

60 Cecil Street
ISCA House
Singapore 049709