Phase 1 – Scope & Plan Objective Define the objective(s) or business questions and plan to conduct the analytic. Key Activities • Identify the audit objective(s) of the analytic • Determine the approach to achieve the audit objective of the analytic • Identify the data elements required to execute the approach • Discuss the approach with data owners, IT Department and key stakeholders • Identify Systems, Data Storage, Data Owners, Data Format (specs) and File Requirements • Plan, prioritize and document the tests (in plain language) Deliverables • Analytic Requirements Document • List of data sources and expected outputs • Resource plan, timelines and estimated effort
For the other phases and ideas for using data analytics in other audit areas login to download this template.
All materials contained on this site are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published, broadcast, performed nor used to prepare derivative works, without the prior written permission of AuditNet®. You may not alter or remove any trademark, copyright, logo or other notice from copies of the content. For further information, see section 1 of the Terms and Conditions and section 2 of the Subscriber Access Agreement.