Data Analytics for Internal Auditors
by Richard E. Cascarino
If you’re traveling down a path that never reaches its destination, would you stay on the same path or would you try a different approach? It’s a question worth asking, especially when it comes to data analytics-enabled auditing.
Internal auditors understand the benefits and challenges of data analytic enabled auditing but many do not know the best way to start. Richard Cascarino, the author of Data Analytics for Internal Auditors is a seasoned veteran of IT audit and the use of data analytics in auditing for fraud. Richard is an AuditNet® featured presenter and subject matter expert who has shared his knowledge and experience with thousands of auditors. His newest book provides auditors with a reference guide covering the several types of analytics as well as the steps to follow using the major tools available. There is specific guidance for the two main generalized audit software applications: ACL and IDEA. Auditors will appreciate access to a demo version of IDEA to see what the software’s capabilities.
Richard writes in a straight-forward manner explaining the terminology, techniques and approaches the can guide the novice as well as reinforce those with analytic experience. One of the major roadblocks for internal auditors using data analytics has been the ability to gain access to the data. Advances in big data, cloud technology and the distribution of data throughout the organization has made access somewhat less of an issue.
Data Analytics for Internal Auditors represents a concise handbook written from a practitioner’s viewpoint that provides a hands-on approach to using the latest technology. I highly recommend adding this book to your internal audit library and make it required reading for every staff member. Data analytics experience is no longer a “nice to have” skill but rather a “must have” for auditors to succeed in the technology driven environment of today’s business.