Excel Pivot Tables and Graphing for Auditors
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Excel Pivot Tables and Graphing for Auditors

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In this case study discussion formatted course with an already developed Graph template, you’ll learn how to translate unwieldy files of financial data into a single compact scattergraph, pie chart, ...

In this case study discussion formatted course with an already developed Graph template, you’ll learn how to translate unwieldy files of financial data into a single compact scattergraph, pie chart, or overlay—and then to pick out the key items that merit sampling and follow-up. Pivot Charts, multi-axis charts, data label issues, and other graph topics will all be discussed with a unique focus on the audit aspects of graphing.

Graphing is only one piece of this course and starting with Pivots Charts, Pivot Tables can be used to unearth almost any audit finding within seconds. A full discussion of the capabilities of Pivot Tables will be explored with sample data and audit situations.

As regulatory changes sweep the globe, auditors, risk management, and compliance professionals are using more sophisticated tools, and methods.
Using a live/video training library approach, we help companies of all sizes use audit and assurance software to improve business intelligence, increase efficiencies, identify fraud, test controls, and bottom line savings.
AuditNet and Cash Recovery Partners Webinar recording available at auditsoftwarevideos.com and AuditNet.tv (registration required) Recording free to view.
Sample Data Files for All Courses are available for $49
To purchase access to all sample data files, Excel macros and ACL scripts associated with the free training visit AuditSoftwareVideos.

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Excel Pivot Tables and Graphing for Auditors Excel Pivot Tables and Graphing for Auditors Document Transcript

  • Excel Pivot Tables and Graphing for Auditors June 25, 2014 AuditNet and AuditSoftwareVideos.com Collaboration Brought to you by AuditSoftwareVideos.com and AuditNet®, working together to provide:  Practical audit software training  Resource links  Independent analysis  Tools to improve audit software usage Today focused on providing practical data analysis training Page 1
  • About Jim Kaplan, CIA, CFE  President and Founder of AuditNet®, the global resource for auditors (now available on Apple and Android devices)  Auditor, Web Site Guru,  Internet for Auditors Pioneer  Recipient of the IIA’s 2007 Bradford Cadmus Memorial Award.  Author of “The Auditor’s Guide to Internet Resources” 2nd Edition Page 2 About AuditNet® LLC • AuditNet®, the global resource for auditors, is available on the Web, iPad, iPhone and Android devices and features: • Over 2,000 Reusable Templates, Audit Programs, Questionnaires, and Control Matrices • Training without Travel Webinars focusing on fraud, audit software (ACL, IDEA, Excel), IT audit, and internal audit • Audit guides, manuals, and books on audit basics and using audit technology • LinkedIn Networking Groups • Monthly Newsletters with Expert Guest Columnists • Book Reviews • Surveys on timely topics for internal auditors Introductions Page 3
  • Webinar Housekeeping Page 4 This webinar and its material are the  property of  Cash Recovery Partners LLC.  Unauthorized usage or recording of this  webinar or any of its material is strictly  forbidden. We are recording the webinar  and you will be provided with a link to that  recording as detailed below. Downloading or  otherwise duplicating the webinar recording  is expressly prohibited. Webinar recording link will be sent via email  within 5‐7 business days. NASBA rules require us to ask polling  questions during the Webinar and CPE  certificates will be sent via email to those  who answer ALL the polling questions The CPE certificates and link to the recording  will be sent to the email address you  registered with in GTW. We are not  responsible for delivery problems due to  spam filters, attachment restrictions or other  controls in place for your email client. Submit questions via the chat box on your  screen and we will answer them either  during or at the conclusion. After the Webinar is over you will have an  opportunity to provide feedback. Please  complete the feedback questionnaire to help  us continuously improve our Webinars If GTW stops working you may need to close  and restart. You can always dial in and listen  and follow along with the handout. Disclaimers 5 The views expressed by the presenters do not necessarily represent the  views, positions, or opinions of AuditNet® or the presenters’ respective  organizations. These materials, and the oral presentation accompanying them,  are for educational purposes only and do not constitute accounting or legal  advice or create an accountant‐client relationship.  While AuditNet® makes every effort to ensure information is accurate and  complete, AuditNet® makes no representations, guarantees, or warranties as  to the accuracy or completeness of the information provided via this  presentation. AuditNet® specifically disclaims all liability for any claims or  damages that may result from the information contained in this presentation,  including any websites maintained by third parties and linked to the AuditNet®  website Any mention of commercial products is for information only; it does not imply  recommendation or endorsement by AuditNet®
  • Richard B. Lanza, CPA, CFE, CGMA • Over two decades of ACL and Excel software usage • Has written and spoken on the use of audit data analytics for over 20 years. • Received the Outstanding Achievement in Business Award by the Association of Certified Fraud Examiners for developing the publication Proactively Detecting Fraud Using Computer Audit Reports as a research project for the IIA • Recently was a contributing author of: • Global Technology Audit Guide (GTAG #13) Fraud in an Automated World – Institute of Internal Auditors. • Data Analytics – A Practical Approach - research whitepaper for the Information System Accountability Control Association. • Cost Recovery – Turning Your Accounts Payable Department into a Profit Center – Wiley and Sons. Please see full bio at www.richlanza.com Learning Objectives Learn to create basic PivotTables and stratify your data using a Pivot table See how to complete specific audit tests in a variety of areas using Pivot Tables Understand graph types and their different analytical strengths from an audit perspective Utilize percentiles, strata, and other simple statistical tools in graphs for assessing whether an item is unusual See how to quickly turn a graphing exercise into a sampling one by sampling multiple categories to identify highest-risk items Learn how to obtain an entire data set for a Pivot Table that dynamically recalculates itself as you add data Using named ranges for auto-formatting an entire Pivot Table area or graph range so that the graph range will auto-update based on the data in that sheet Be able to operate a graph template for creating numerous audit-report ready presentations of payables and general ledger data (although the techniques can be used in almost every audit area). Page 7
  • Pivot Tables and Charts > The Basics Explained Page 8 Query Viewpoints Page 9
  • Getting Started: Pivot to New Sheet Page 10 Getting Around The Pivot-  Right click on the amount fields (data part) to see field list and edit various Pivot Table options  Select from the Top Ribbon Menu the Options and Design menus for Pivot Tables (Excel creates them when a Pivot Table is created) – best and easiest way to make changes Page 11
  • Change Number Format and Type Page 12 Graphing the Data With your mouse pointer anywhere in the Pivot, select the Pivot Chart button Whatever is in the Pivot will be added to the Chart Page 13
  • Grouping Date Ranges Page 14 Polling Question #1 Where do you change your value formats in a PivotTable?  Grouping  Value Field Settings  Pivot Chart  Active Field Format Page 15
  • Stratifying Data in a Pivot Table Page 16 Stratify Your Data – Ver 1 Page 17 =IF(B4>1000,“3. Over $1000",IF(B4>100,“2. Over $100 to $1,000",IF(B4<=100,“1. Up to $100"))) This will create three strata: 1. Up to $100 2. Over $100 to $1,000 3. Over $1,000 Start from highest to lowest – Excel picks the first matching item
  • Stratify Your Data – Ver 2 Page 18 Polling Question #2 Where function improves the ease of calculating a stratification report?  OFFSET  COUNTIF  SUMIF  VLOOKUP Page 19
  • Specific Accounts Payable Tests Page 20 Specific Accounts Payable Tests (What) Summarize activity on the amount field (absolute value of debit or credit) to identify the top occurring amounts. Then summarize activity by vendor and the amount identified for the top 25 appearing. (What) Extract payables that equate to round multiples of 10,000, 100,000, and 1,000,000. (When) Extract transactions posted on weekends and holidays. (When) Summarize activity by day, month, and year. (Who) Summarize activity by user and month Page 21
  • Calculating an Average DPO Create a calculated field for check less invoice date (DPO) – in data or the Pivot Add sum of Invoice Amount and Average of newly calculated field Identify the Longest Time to Enter a Vendor Invoice
  • 24 Scatter Graph Page 24 Scatter Graph Explanation 1 – high dollar change and low count (outliers) 2 – charges that make sense 3 – changes that don’t make sense 4 – inefficiency that is developing Page 25
  • Polling Question #3 What Value Field Setting is used to obtain the largest item in a Pivot Table ?  Min  Over  More  Max Page 26 Specific General Ledger Tests Page 27
  • Entries By Day Analysis Page 28 Specific General Ledger Tests Summarize journal entries by the persons entering to determine if they’re authorized. Summarize on enterer over a timeframe (3 D graphical analysis) Extract journal entries that equate to round multiples of 10,000, 100,000, and 1,000,000. Extract journal entries that don’t net to zero (debits less credits). Page 29
  • 3 D Rotation of Enterer/Month Page 30 Polling Question #4 What function is used to determine if a cell is a round number?  OFFSET  MOD  MID  ROUND Page 31
  • Building Dynamic Ranges for Use In Your Pivot Table Analysis Page 32 Capturing All Data Named Range Formula If PivotData is where you have your data: =OFFSET(PivotData!$A$1,0,0,COUNTA(Piv otData!$A:$A),COUNTA(PivotData!$1:$1)) …will ensure the entire sheet is mapped for pivoting. Page 33
  • Capturing All Graph Data Named Range Formula If Sheet1 and column G is where you have your data: =OFFSET(‘Sheet1'!$G$2,0,0,COUNTA(' Sheet1'!$A:$A)-1) Just replace the Excel formula part starting with $ with the named range: Page 34 Polling Question #5 What function allows you to grab all data for a PivotTable which can be updated dynamically?  VLOOKUP  OFFSET  SUM IF  REPLACE Page 35
  • Questions? Any Questions? Don’t be Shy! Page 36 In the Queue Building Simple Continuous Monitoring in ACL – July 2 Sampling in Excel and Other Simple Add-In Products – Aug 13 Financial Statement Analysis to Journal Reviews With Excel Tools – Oct 7
  • AuditSoftwareVideos.com Videos accessible for FREE subscriptions Repeat video and text instruction as much as you need Sample files, scripts, and macros in ACL™, Excel™, etc. available for purchase Bite-size video format (3 to 10 minutes) Page 38 >> Professionally produced videos by instructors with over 20 years experience in ACL™, Excel™ , and more Thank You! Jim Kaplan AuditNet® LLC 1-800-385-1625 Email:webinars@auditnet.org http://www.auditnet.org Richard B. Lanza, CPA, CFE, CGMA Cash Recovery Partners, LLC Phone: 973-729-3944 Cell: 201-650-4150 Fax: 973-270-2428 Email: rich@richlanza.com http://www.richlanza.com Page 39