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TURNING INTERNAL AUDIT INTO THE
DATA ANALYTICS EPICENTER FOR YOUR ORGANIZATION
Presenter: Heath Rude
Internal Audit Strategic Plan
•Satisfaction survey
score
•Audit requests
•Outreach activities
•Committee/task force
•PwC r...
Focus on the BONE!
Improve your organization through data analytics!
■ Take the Lead
■ Tactics
■ Obstacles
■ Real Examples...
The Case for Internal Audit (IA) Taking The Lead
Assurance
Diversity
Exposure
Data Analytics
Assurance
Skillset Advisory
• Process Re-Engineering
• Facilitators
• Data Analytics
“That is not the role of IA.”
Internal auditing is an independent appraisal activity established
within an organization as a service to the organization...
Internal Audit credibility and value are enhanced when auditors are
proactive and their evaluations offer new insights and...
Aligns with the strategies, objectives, and risks of the organization.
Demonstrates quality and continuous improvement.
Co...
Advisory services is an
essential function of IA.
Tactic 1: Integration
0
200
400
600
800
1000
1200
1400
1965 1970 1975 1980 1985 1990 1995 2000 2005 2010
New York State Violent Crime Rate
per 1...
For Daily Fantasy-Sports Operators, the Curse of too much Skill
In the first half of the 2015 MLB season, 91% of daily fan...
How Companies Learn Your Secrets
My daughter got this in the mail!” he said. “She’s still in high school,
and you’re sendi...
Tactic 2: Timing is Everything
RED FLAG RULES
Are customers who they say they are?
■ Huge data set in multiple tables
■ Defined rules of applicability
■ ...
Customer Rates
Were customers accurately billed?
■ Several regulated tariffs
■ Monthly weather adjustor
■ Team to program ...
“They should not have access to that.”
IA needs
access to
data to do
their job.
Tactic 3: Market Yourself
Everythingyouwantedtoknowabout
audit,butweretooafraidtoask!
Planning
Fieldwork
Reporting
Follow
Up
The Audit Process
2nd Line: Monitoring
1st Line: Performing
3rd Line: Auditing
Risks
The Three Lines of Defense
Revenue Protection
Has someone stolen gas?
■ Three lines of defense
■ Validate reports or triggers
■ Improve the process
Rate Change Report
Were changes properly entered into the system?
■ Many types of changes
■ Over 2,200 pages
■ 100% compar...
Purchasing Card Committee
What card is best for our Company?
■ Spending habits
■ Vendor contract
■ Authorization levels an...
Tactic 4: Win When You Fail
Fuel Purchases
Are fuel purchases legit and within policy?
■ Good procedures
■ Poor reports
■ No enforcement
■ Bad data
Tactic 5: Support Other Data Analytic Groups
“We cannot ask
them for help
because they must
maintain their
independence.”
IA can provide
assistance while
ensuring safeguards
are in place while
maintaining
independence.
Pipe Recall
What pipe needs to be replaced and when?
■ Trouble getting data
■ System change
■ Lay out assumptions
■ Priori...
“We’re hesitant to ask for help from
them because it may be used against
us.”
IA is a trusted advisor and a
valuable partner.
Remember the BONE!
Improve your organization through data analytics!
Build your strategy:
■ Integration
■ Timing is Everyt...
THANK YOU
CONTACT ME AT HEATH.RUDE@SWGAS.COM
Turning internal audit into the data analytics epicenter for your organization
Turning internal audit into the data analytics epicenter for your organization
Turning internal audit into the data analytics epicenter for your organization
Turning internal audit into the data analytics epicenter for your organization
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Turning internal audit into the data analytics epicenter for your organization

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Session from ACL Connections 2016
While most audit departments naturally focus more on their assurance services, this session will focus on how ACL can help elevate
your department’s advisory services into what one day could be the epicenter of data analytics across your organization. In this
dramatic presentation, an ACL customer shares their strategies, thought processes, speed-bumps, and successes as their
department rose to been seen as the data analytics leaders in their organization. Are you ready to take the next step?
Key learning outcomes:
• Understand the value of having a trusted, dedicated, centralized data analytics group
• Learn about real-world applications of how to use ACL to enhance your advisory services
• Explore different strategies to becoming the data analytics epicenter for your organization

Published in: Data & Analytics
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Turning internal audit into the data analytics epicenter for your organization

  1. 1. TURNING INTERNAL AUDIT INTO THE DATA ANALYTICS EPICENTER FOR YOUR ORGANIZATION Presenter: Heath Rude
  2. 2. Internal Audit Strategic Plan •Satisfaction survey score •Audit requests •Outreach activities •Committee/task force •PwC reliance on IA PARTNERING OBJECTIVES MEASURES •Provide the best customer service possible •Become a strategic business partner & trusted advisor •Cost savings •Use of technology to enhance the audits •Best practices & process improvements identified PIONEERING OBJECTIVES MEASURES •Add value & improve company operations •Embrace the use of new technology •Stimulate positive change •Satisfaction survey •Training hours/auditor •Staff certifications •Industry experience •Audit experience •Audit staff turnover PEOPLE OBJECTIVES MEASURES •Develop skilled & motivated individuals into future company leaders •Be the employer of choice in the industry PROCESSES •Audit performance evaluation score •Audit plan completion % •Budget vs. actual costs •Report turnaround OBJECTIVES MEASURES •Provide independent, objective assurance and consulting services in a systematic, disciplined approach INTERNAL AUDIT STRATEGY CORPORATE STRATEGY • Leadership • Professionalism • Passion • Happiness • Vision • Innovation • Change • Proactivity • Independence & Objectivity • Integrity • Efficiency & Effectiveness •Professional Skepticism • Trust • Teamwork • Unity • Synergy ADVISORY ASSURANCE Values Values Values Values
  3. 3. Focus on the BONE! Improve your organization through data analytics! ■ Take the Lead ■ Tactics ■ Obstacles ■ Real Examples Become Sought-After .
  4. 4. The Case for Internal Audit (IA) Taking The Lead
  5. 5. Assurance Diversity Exposure Data Analytics
  6. 6. Assurance Skillset Advisory • Process Re-Engineering • Facilitators • Data Analytics
  7. 7. “That is not the role of IA.”
  8. 8. Internal auditing is an independent appraisal activity established within an organization as a service to the organization. -IIA Definition of IA in 1978 Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. - IIA Definition of IA from 1999 to today
  9. 9. Internal Audit credibility and value are enhanced when auditors are proactive and their evaluations offer new insights and consider future impact. - 2016 Proposed Addition, Standard 2100
  10. 10. Aligns with the strategies, objectives, and risks of the organization. Demonstrates quality and continuous improvement. Communicates effectively. Is insightful, proactive, and future-focused. Promotes organizational improvement.
  11. 11. Advisory services is an essential function of IA.
  12. 12. Tactic 1: Integration
  13. 13. 0 200 400 600 800 1000 1200 1400 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 New York State Violent Crime Rate per 100,000 Population Source: FBI, Uniform Crime Reports
  14. 14. For Daily Fantasy-Sports Operators, the Curse of too much Skill In the first half of the 2015 MLB season, 91% of daily fantasy sports player profits were won by just 1.3% of players -Article by Ed Miller and Dan Singer, Sports Business Daily
  15. 15. How Companies Learn Your Secrets My daughter got this in the mail!” he said. “She’s still in high school, and you’re sending her coupons for baby clothes and cribs? Are you trying to encourage her to get pregnant?” -Article by Charles Duhigg, New York Times
  16. 16. Tactic 2: Timing is Everything
  17. 17. RED FLAG RULES Are customers who they say they are? ■ Huge data set in multiple tables ■ Defined rules of applicability ■ The system handles it ■ Company expert
  18. 18. Customer Rates Were customers accurately billed? ■ Several regulated tariffs ■ Monthly weather adjustor ■ Team to program and test ■ Over 100 pages of scripting
  19. 19. “They should not have access to that.”
  20. 20. IA needs access to data to do their job.
  21. 21. Tactic 3: Market Yourself
  22. 22. Everythingyouwantedtoknowabout audit,butweretooafraidtoask!
  23. 23. Planning Fieldwork Reporting Follow Up The Audit Process
  24. 24. 2nd Line: Monitoring 1st Line: Performing 3rd Line: Auditing Risks The Three Lines of Defense
  25. 25. Revenue Protection Has someone stolen gas? ■ Three lines of defense ■ Validate reports or triggers ■ Improve the process
  26. 26. Rate Change Report Were changes properly entered into the system? ■ Many types of changes ■ Over 2,200 pages ■ 100% comparison ■ Temporary fix
  27. 27. Purchasing Card Committee What card is best for our Company? ■ Spending habits ■ Vendor contract ■ Authorization levels and spending limits ■ System configurations ■ Dealing with outliers
  28. 28. Tactic 4: Win When You Fail
  29. 29. Fuel Purchases Are fuel purchases legit and within policy? ■ Good procedures ■ Poor reports ■ No enforcement ■ Bad data
  30. 30. Tactic 5: Support Other Data Analytic Groups
  31. 31. “We cannot ask them for help because they must maintain their independence.”
  32. 32. IA can provide assistance while ensuring safeguards are in place while maintaining independence.
  33. 33. Pipe Recall What pipe needs to be replaced and when? ■ Trouble getting data ■ System change ■ Lay out assumptions ■ Prioritized by operational unit
  34. 34. “We’re hesitant to ask for help from them because it may be used against us.”
  35. 35. IA is a trusted advisor and a valuable partner.
  36. 36. Remember the BONE! Improve your organization through data analytics! Build your strategy: ■ Integration ■ Timing is Everything ■ Market Yourself ■ Win When You Fail ■ Support Other Data Analytic Groups Become Sought-After
  37. 37. THANK YOU CONTACT ME AT HEATH.RUDE@SWGAS.COM

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