The document describes the CarLab research center's structure, funding, advisory board, and research efforts. The center has limited annual funding of around $250K from sponsors like KPMG, Itau Unibanco, and an annual conference. The advisory board provides guidance and connections. Research projects analyze processes at companies like Siemens, HCA, Itau Unibanco, and P&G to develop methods for continuous assurance, monitoring, and auditing. The goal is more efficient, data-driven auditing through automation, analytics, and continuous evaluation of risks, controls, and data.
The document summarizes an advisory board meeting for the CarLab research center. It discusses continuous assurance and how audit is evolving to be a continuous process using automation, sensors, and data monitoring. Research projects are looking at areas like control monitoring, process mining, remote auditing, and using techniques like continuity equations and clustering for anomaly detection. The document also discusses creating a rapid prototyping environment for testing advanced analytics and building dashboards to visualize risks and transactions for continuous monitoring.
M17.5 original car lab advisory board meeting (june 16 2020) v1 (003)carlabrut
The summary of the document is:
1) The document outlines the agenda and presentations for the 17.5th CarLab Advisory Board Meeting, including updates on various research projects involving analytics in standards, current CarLab research projects, and RPA automation projects.
2) Presentations were given on various CarLab research projects involving dark web monitoring, analyzing Brazilian stock exchange transactions, detecting fraud for an brewing company, and developing a continuous monitoring system for medication procurement.
3) Additional discussions involved COVID-19 procurement analytics, a GASB post-implementation review project, and proposals for a continuous intelligent pandemic monitoring framework using accounting and audit methodologies combined with machine learning.
Mav slides m15 advisory board meeting november 2th 2017 v2xcarlabrut
The document summarizes the 15th CarLab Advisory Board Meeting. Some key points:
- Three PhD students completed dissertations on cybersecurity, audit technology, and public auditing. Five new PhD students were accepted.
- The CarLab continues its audit analytics certificate program and digital library. It held conferences in Brazil and is planning one in Spain.
- The CarLab has over 30 faculty, students, and visiting scholars working on projects involving KPMG, Itau bank, and others relating to audit data standards, text mining, and government reporting.
- The CarLab is working to incorporate machine learning, AI, and analytics into auditing curriculum and courses. It also focuses on electronic
The document discusses the concept of continuous monitoring and auditing in a real-time economy. It defines continuous monitoring as an ongoing responsibility of management to improve governance, align business risks with controls, and leverage technology for efficiencies. Continuous auditing is described as work performed by internal audit to more effectively gain audit evidence and react timely to business risks. The document outlines a roadmap for implementing continuous monitoring and continuous auditing programs. It also discusses levels of real-time economy processes from the business process level to continuous monitoring and assurance.
Business Process Analytics: From Insights to PredictionsMarlon Dumas
Keynote talk at the 13th Baltic Conference on Databases and Information Systems, Trakai, Lithuania, 2 July 2018.
Abstract
Business process analytics is a body of methods for analyzing data generated by the execution of business processes in order to extract insights about weaknesses and improvement opportunities, both at the tactical and operational levels. Tactical process analytics methods (also known as process mining) allow us to understand how a given business process is actually executed, if and how its execution deviates with respect to expected or normative pathways, and what factors contribute to poor process performance or undesirable outcomes. Meantime, operational process analytics methods allow us to monitor ongoing executions of a business process in order to predict future states and undesirable outcomes at runtime (predictive process monitoring). Existing methods in this space allow us to predict, for example, which task will be executed next in a case, when, and who will perform it? When will an ongoing case complete? What will its outcome be and how can negative outcomes be avoided? This keynote will present a framework for conceptualizing business process analytics methods and applications. The talk will provide an overview of state-of-art methods and tools in the field and will outline open challenges and research opportunities.
This document provides an introduction to Computer Assisted Auditing Techniques (CAAT). It discusses two main audit methodologies in a computer environment: auditing around the computer using a "black box" approach, and auditing through the computer using a "white box" approach. The black box approach treats the computer as a bookkeeping machine without examining internal processing, while the white box approach examines internal workings to verify system controls and testing. CAAT techniques allow auditors to test entire populations of transactions more efficiently compared to traditional audit sampling methods.
CAAT - Data Analysis and Audit TechniquesSaurabh Rai
The document discusses Computer Assisted Audit Techniques (CAAT). It defines CAAT as using computers to automate accounting and audit processes. CAAT allows auditors to do more work in less time and provide more robust assurance. The document outlines planning steps for CAAT, types of audit evidence that can be obtained through CAAT, and audit techniques like snapshots, integrated test facilities, and embedded audit facilities. It also discusses audit sampling methods and provides an example of using IDEA software to detect duplicate invoices.
The document summarizes an advisory board meeting for the CarLab research center. It discusses continuous assurance and how audit is evolving to be a continuous process using automation, sensors, and data monitoring. Research projects are looking at areas like control monitoring, process mining, remote auditing, and using techniques like continuity equations and clustering for anomaly detection. The document also discusses creating a rapid prototyping environment for testing advanced analytics and building dashboards to visualize risks and transactions for continuous monitoring.
M17.5 original car lab advisory board meeting (june 16 2020) v1 (003)carlabrut
The summary of the document is:
1) The document outlines the agenda and presentations for the 17.5th CarLab Advisory Board Meeting, including updates on various research projects involving analytics in standards, current CarLab research projects, and RPA automation projects.
2) Presentations were given on various CarLab research projects involving dark web monitoring, analyzing Brazilian stock exchange transactions, detecting fraud for an brewing company, and developing a continuous monitoring system for medication procurement.
3) Additional discussions involved COVID-19 procurement analytics, a GASB post-implementation review project, and proposals for a continuous intelligent pandemic monitoring framework using accounting and audit methodologies combined with machine learning.
Mav slides m15 advisory board meeting november 2th 2017 v2xcarlabrut
The document summarizes the 15th CarLab Advisory Board Meeting. Some key points:
- Three PhD students completed dissertations on cybersecurity, audit technology, and public auditing. Five new PhD students were accepted.
- The CarLab continues its audit analytics certificate program and digital library. It held conferences in Brazil and is planning one in Spain.
- The CarLab has over 30 faculty, students, and visiting scholars working on projects involving KPMG, Itau bank, and others relating to audit data standards, text mining, and government reporting.
- The CarLab is working to incorporate machine learning, AI, and analytics into auditing curriculum and courses. It also focuses on electronic
The document discusses the concept of continuous monitoring and auditing in a real-time economy. It defines continuous monitoring as an ongoing responsibility of management to improve governance, align business risks with controls, and leverage technology for efficiencies. Continuous auditing is described as work performed by internal audit to more effectively gain audit evidence and react timely to business risks. The document outlines a roadmap for implementing continuous monitoring and continuous auditing programs. It also discusses levels of real-time economy processes from the business process level to continuous monitoring and assurance.
Business Process Analytics: From Insights to PredictionsMarlon Dumas
Keynote talk at the 13th Baltic Conference on Databases and Information Systems, Trakai, Lithuania, 2 July 2018.
Abstract
Business process analytics is a body of methods for analyzing data generated by the execution of business processes in order to extract insights about weaknesses and improvement opportunities, both at the tactical and operational levels. Tactical process analytics methods (also known as process mining) allow us to understand how a given business process is actually executed, if and how its execution deviates with respect to expected or normative pathways, and what factors contribute to poor process performance or undesirable outcomes. Meantime, operational process analytics methods allow us to monitor ongoing executions of a business process in order to predict future states and undesirable outcomes at runtime (predictive process monitoring). Existing methods in this space allow us to predict, for example, which task will be executed next in a case, when, and who will perform it? When will an ongoing case complete? What will its outcome be and how can negative outcomes be avoided? This keynote will present a framework for conceptualizing business process analytics methods and applications. The talk will provide an overview of state-of-art methods and tools in the field and will outline open challenges and research opportunities.
This document provides an introduction to Computer Assisted Auditing Techniques (CAAT). It discusses two main audit methodologies in a computer environment: auditing around the computer using a "black box" approach, and auditing through the computer using a "white box" approach. The black box approach treats the computer as a bookkeeping machine without examining internal processing, while the white box approach examines internal workings to verify system controls and testing. CAAT techniques allow auditors to test entire populations of transactions more efficiently compared to traditional audit sampling methods.
CAAT - Data Analysis and Audit TechniquesSaurabh Rai
The document discusses Computer Assisted Audit Techniques (CAAT). It defines CAAT as using computers to automate accounting and audit processes. CAAT allows auditors to do more work in less time and provide more robust assurance. The document outlines planning steps for CAAT, types of audit evidence that can be obtained through CAAT, and audit techniques like snapshots, integrated test facilities, and embedded audit facilities. It also discusses audit sampling methods and provides an example of using IDEA software to detect duplicate invoices.
Apromore: Advanced Business Process Analytics on the CloudMarlon Dumas
Tutorial delivered at the 16th International Conference on Business Process Management (BPM'2018), Sydney, Australia, 13 September 2018. The tutorial provides an introduction to process mining and predictive process monitoring using Apromore
Computer Assisted Audit Tools and Techniques - the Force multiplier in the ba...Ee Chuan Yoong
Agenda
Business case for Computer Assisted Tools/Techniques (CAATs) and data analytics
Using CAATs to size up business processes quickly
Simple CAATs techniques that yield quick return on investment
Using CAATs for investigative work
How CAATs was successfully integrated into a pre-CAATs audit team
1) The bank needed to comply with FATCA regulations by updating its IT systems. It hired TGSL as a testing partner to help with compliance testing and implementation.
2) TGSL developed a framework to identify high-risk areas impacted by FATCA, design test scenarios, and ensure functional coverage. This included testing new customer fields, tax withholding, and report generation.
3) Testing found 25% high severity and 40% medium severity defects. 35% of defects were in critical areas, avoiding post-production issues. All testing was completed on schedule.
Structured NERC CIP Process Improvement Using Six SigmaEnergySec
Presented by: Chris Unton, Midwest ISO (MISO)
Abstract: MISO embarked on a structured, comprehensive process improvement program to make advancements in cyber security risk reduction as well as CIP compliance. The program utilizes the Six Sigma framework to reduce process defects and gain efficiencies. The 13 month effort comprises process level health checks; assignment of functional roles, responsibilities, and oversight; cross-functional process improvement events; and training/awareness curriculums to lock in the improvements. As a result, MISO not only is strengthening its cyber security and compliance posture, but also positioning the company for a smoother adoption of controls based audits when applicable. In this presentation, Mr. Unton will walk through the process and show how this has been instrumental in greatly enhancing MISO’s security and compliance environment.
Automated Discovery of Data Transformations for Robotic Process AutomationMarlon Dumas
Paper presentation by Artem Polyvyanyy at the AAAI Workshop on Intelligent Process Automation (IPA), New York, 7 February 2020. Paper available at: https://arxiv.org/pdf/1912.01855.pdf
Iiaic08 power point cs2-3_track_regulatory session v3Gene Kim
GAIT-R framework, extending beyond SOX-404 to any COSO objective
Presented by Jay Taylor and Ed Hill at 2008 Institute of Internal Auditors Internal Conference
Computer aided audit techniques and fraud detectionAlexander Decker
This research study examined the use of computer aided audit techniques (CAATs) to detect fraud. The study found that 72.8% of respondents agreed that CAATs play a major role in fraud detection. It was also found that CAATs help improve auditor performance and provide transparency in financial reporting. However, costs associated with implementation and skills required present challenges to adoption of CAATs. The study concluded that CAATs can effectively detect fraudulent and misappropriated practices in organizations.
This document provides an overview of key elements of a quality system including:
1) Basic quality functions such as inspections, audits, corrective actions, preventive actions, and process control.
2) Methods for analyzing quality costs including failure costs, costs of quality assessments and prevention.
3) The Juran Trilogy of planning, controlling, and improving quality.
The document summarizes the results of a survey of 106 respondents from supplier organizations and EPCs about the challenges of project document control. Key findings include:
- Suppliers face difficulties mapping document codes, negotiating requirements after purchase orders, and creating project documentation. EPCs struggle with schedule changes and scope adjustments.
- Suppliers lack dedicated document control resources and systems like EDMS, relying on emails. EPCs invest in information management but have little time to verify supplier data.
- The survey identifies areas for improvement like clearly defining requirements, standardizing codes, automating metadata loading, and tailored payment holdbacks based on supplier performance. Establishing internal document control procedures and billing policies is advised for suppliers
Accounting for non functional and project requirements - cosmic and ifpug dev...IWSM Mensura
The document discusses the need for standards around measuring and accounting for non-functional requirements (NFRs) and project requirements and constraints (PRCs) in software project performance, benchmarking, and estimating. There is currently no common understanding of NFRs across the industry. The COSMIC and IFPUG organizations have developed a joint glossary to help standardize terms for NFRs and PRCs, in order to improve consistency in measuring, benchmarking, and estimating software projects. They have agreed on defining and structuring the terms in the glossary to help bring more coherence to how these critical non-functional aspects are addressed.
Webinar: Hoe houdt u de marge op peil bij de huidige record hoge energieprijzenStork
De energiekosten schieten omhoog. De energiebudgetten worden zwaar overschreden en het einde is nog niet in zicht. Om de marges op peil te houden is ingrijpen op de kosten een belangrijke optie. Dat betekent: op zoek gaan naar besparingen en het elimineren van ‘waste’. Maar ook het her-prioriteren van geplande investeringen (CAPEX) en operationele verbeteringen (OPEX).
In dit webinar bieden Joris Grimbergen en Mario Idsinga handvatten om de stijgende energiekosten te compenseren.
The document discusses predictive, preventive, and progressive audits in the context of continuous audit and audit automation. It proposes a conceptual revolution is needed where measurements are full cycle and preemptive. Progressive (P1) audits involve automating actual audit processes by breaking them down into small automated steps. Preventive (P2) audits use forensic models to create preventive filters that flag transactions for review. Predictive (P3) audits use models to predict levels and flows, with variances establishing aberrations. Audit automation and continuous monitoring are seen as complementary and necessary for a real-time economy, but challenges include integrating systems and overcoming organizational obstacles.
This document discusses continuous auditing and control optimization. It begins by stating that traditional audit models are becoming outdated and continuous auditing can help address these issues. It then discusses how most companies will follow automating and optimizing controls as well as automating the audit process through continuous auditing. The expected outcomes of continuous auditing and optimization include a stronger control environment, more efficient and cost-effective controls, and decreasing levels of effort to sustain compliance. Benefits mentioned include improved detection of errors, timely issue resolution, and greater fraud deterrence.
Rhd + Visual Risk Iq Presentation On Continuous Auditing District Conferenc...Joe Oringel
This document summarizes an internal audit conference session on data analytics and fraud detection. It discusses how the internal audit team of a large yellow pages company used data analysis tools to conduct an expense management audit. They analyzed $2.5 billion in payments over 24 months, identifying $2.2 million in duplicate payments. The audit revealed issues with manual overrides and system coding not preventing duplicate payments across legal entities. Recommendations included system enhancements and continuous monitoring to prevent future duplicate payments.
Interactive Insurance Analytics provides a readymade insurance reporting and analytics solution built on the QlikView platform. It features predefined templates and dashboards for key insurance functions that integrate various insurance data sources using a unified insurance data model. The solution is designed to provide concise, accurate insights while keeping the cost per report low and time to deploy short.
The document provides an overview of a pharmacovigilance resource calculator tool. It describes the objective of the tool is to help plan optimized staffing levels, especially during surges. It outlines the typical process for building the calculator which includes collecting workflow data, analyzing activities, documenting processes, and testing the calculator output. The tool's interface includes sections for inputting volume and staffing data and outputting budgeted, utilized, and optimized full-time employees and required staffing changes.
Oil & Gas Technology Solutions on HANA. Akili and Cisco Offer Best in Class Solutions for Upstream Oil & Gas.
Gain Optimal Performance and Accelerated Results with Industry Solutions on HANA.
Apromore: Advanced Business Process Analytics on the CloudMarlon Dumas
Tutorial delivered at the 16th International Conference on Business Process Management (BPM'2018), Sydney, Australia, 13 September 2018. The tutorial provides an introduction to process mining and predictive process monitoring using Apromore
Computer Assisted Audit Tools and Techniques - the Force multiplier in the ba...Ee Chuan Yoong
Agenda
Business case for Computer Assisted Tools/Techniques (CAATs) and data analytics
Using CAATs to size up business processes quickly
Simple CAATs techniques that yield quick return on investment
Using CAATs for investigative work
How CAATs was successfully integrated into a pre-CAATs audit team
1) The bank needed to comply with FATCA regulations by updating its IT systems. It hired TGSL as a testing partner to help with compliance testing and implementation.
2) TGSL developed a framework to identify high-risk areas impacted by FATCA, design test scenarios, and ensure functional coverage. This included testing new customer fields, tax withholding, and report generation.
3) Testing found 25% high severity and 40% medium severity defects. 35% of defects were in critical areas, avoiding post-production issues. All testing was completed on schedule.
Structured NERC CIP Process Improvement Using Six SigmaEnergySec
Presented by: Chris Unton, Midwest ISO (MISO)
Abstract: MISO embarked on a structured, comprehensive process improvement program to make advancements in cyber security risk reduction as well as CIP compliance. The program utilizes the Six Sigma framework to reduce process defects and gain efficiencies. The 13 month effort comprises process level health checks; assignment of functional roles, responsibilities, and oversight; cross-functional process improvement events; and training/awareness curriculums to lock in the improvements. As a result, MISO not only is strengthening its cyber security and compliance posture, but also positioning the company for a smoother adoption of controls based audits when applicable. In this presentation, Mr. Unton will walk through the process and show how this has been instrumental in greatly enhancing MISO’s security and compliance environment.
Automated Discovery of Data Transformations for Robotic Process AutomationMarlon Dumas
Paper presentation by Artem Polyvyanyy at the AAAI Workshop on Intelligent Process Automation (IPA), New York, 7 February 2020. Paper available at: https://arxiv.org/pdf/1912.01855.pdf
Iiaic08 power point cs2-3_track_regulatory session v3Gene Kim
GAIT-R framework, extending beyond SOX-404 to any COSO objective
Presented by Jay Taylor and Ed Hill at 2008 Institute of Internal Auditors Internal Conference
Computer aided audit techniques and fraud detectionAlexander Decker
This research study examined the use of computer aided audit techniques (CAATs) to detect fraud. The study found that 72.8% of respondents agreed that CAATs play a major role in fraud detection. It was also found that CAATs help improve auditor performance and provide transparency in financial reporting. However, costs associated with implementation and skills required present challenges to adoption of CAATs. The study concluded that CAATs can effectively detect fraudulent and misappropriated practices in organizations.
This document provides an overview of key elements of a quality system including:
1) Basic quality functions such as inspections, audits, corrective actions, preventive actions, and process control.
2) Methods for analyzing quality costs including failure costs, costs of quality assessments and prevention.
3) The Juran Trilogy of planning, controlling, and improving quality.
The document summarizes the results of a survey of 106 respondents from supplier organizations and EPCs about the challenges of project document control. Key findings include:
- Suppliers face difficulties mapping document codes, negotiating requirements after purchase orders, and creating project documentation. EPCs struggle with schedule changes and scope adjustments.
- Suppliers lack dedicated document control resources and systems like EDMS, relying on emails. EPCs invest in information management but have little time to verify supplier data.
- The survey identifies areas for improvement like clearly defining requirements, standardizing codes, automating metadata loading, and tailored payment holdbacks based on supplier performance. Establishing internal document control procedures and billing policies is advised for suppliers
Accounting for non functional and project requirements - cosmic and ifpug dev...IWSM Mensura
The document discusses the need for standards around measuring and accounting for non-functional requirements (NFRs) and project requirements and constraints (PRCs) in software project performance, benchmarking, and estimating. There is currently no common understanding of NFRs across the industry. The COSMIC and IFPUG organizations have developed a joint glossary to help standardize terms for NFRs and PRCs, in order to improve consistency in measuring, benchmarking, and estimating software projects. They have agreed on defining and structuring the terms in the glossary to help bring more coherence to how these critical non-functional aspects are addressed.
Webinar: Hoe houdt u de marge op peil bij de huidige record hoge energieprijzenStork
De energiekosten schieten omhoog. De energiebudgetten worden zwaar overschreden en het einde is nog niet in zicht. Om de marges op peil te houden is ingrijpen op de kosten een belangrijke optie. Dat betekent: op zoek gaan naar besparingen en het elimineren van ‘waste’. Maar ook het her-prioriteren van geplande investeringen (CAPEX) en operationele verbeteringen (OPEX).
In dit webinar bieden Joris Grimbergen en Mario Idsinga handvatten om de stijgende energiekosten te compenseren.
The document discusses predictive, preventive, and progressive audits in the context of continuous audit and audit automation. It proposes a conceptual revolution is needed where measurements are full cycle and preemptive. Progressive (P1) audits involve automating actual audit processes by breaking them down into small automated steps. Preventive (P2) audits use forensic models to create preventive filters that flag transactions for review. Predictive (P3) audits use models to predict levels and flows, with variances establishing aberrations. Audit automation and continuous monitoring are seen as complementary and necessary for a real-time economy, but challenges include integrating systems and overcoming organizational obstacles.
This document discusses continuous auditing and control optimization. It begins by stating that traditional audit models are becoming outdated and continuous auditing can help address these issues. It then discusses how most companies will follow automating and optimizing controls as well as automating the audit process through continuous auditing. The expected outcomes of continuous auditing and optimization include a stronger control environment, more efficient and cost-effective controls, and decreasing levels of effort to sustain compliance. Benefits mentioned include improved detection of errors, timely issue resolution, and greater fraud deterrence.
Rhd + Visual Risk Iq Presentation On Continuous Auditing District Conferenc...Joe Oringel
This document summarizes an internal audit conference session on data analytics and fraud detection. It discusses how the internal audit team of a large yellow pages company used data analysis tools to conduct an expense management audit. They analyzed $2.5 billion in payments over 24 months, identifying $2.2 million in duplicate payments. The audit revealed issues with manual overrides and system coding not preventing duplicate payments across legal entities. Recommendations included system enhancements and continuous monitoring to prevent future duplicate payments.
Interactive Insurance Analytics provides a readymade insurance reporting and analytics solution built on the QlikView platform. It features predefined templates and dashboards for key insurance functions that integrate various insurance data sources using a unified insurance data model. The solution is designed to provide concise, accurate insights while keeping the cost per report low and time to deploy short.
The document provides an overview of a pharmacovigilance resource calculator tool. It describes the objective of the tool is to help plan optimized staffing levels, especially during surges. It outlines the typical process for building the calculator which includes collecting workflow data, analyzing activities, documenting processes, and testing the calculator output. The tool's interface includes sections for inputting volume and staffing data and outputting budgeted, utilized, and optimized full-time employees and required staffing changes.
Oil & Gas Technology Solutions on HANA. Akili and Cisco Offer Best in Class Solutions for Upstream Oil & Gas.
Gain Optimal Performance and Accelerated Results with Industry Solutions on HANA.
The document discusses QlikView's performance in business intelligence customer loyalty and ease of use surveys. It summarizes QlikView's capabilities for quickly integrating data sources, empowering business users to make data-driven decisions, and its associative search functionality that allows users to explore data interactively. The document contrasts QlikView's approach of loading all data into memory with traditional business intelligence workflows involving extract, transform, load processes and data warehousing.
Vikas Dutta and Rob Zanella presented an agenda on projects in internal audit at CA Technologies. The presentation discussed CA Technologies as a global software company, the reasons for adopting continuous auditing approaches, innovations in audit methods using tools like data analytics and rule-based systems, and ongoing work with external partners like CARLABS. It proposed using predictive analytics to identify risks and anomalies in key processes like sales, commissions, and accounts payable to enable more proactive auditing.
This document discusses a roundtable on continuous auditing and risk monitoring. The agenda includes introductions, a discussion of what the market is doing, the role of automation, and a roundtable discussion. Key points from the discussion include: determining the appropriate frequency of auditing and monitoring based on risk; continuous auditing and monitoring should be risk-based and focus on critical areas; and technology can enable more frequent auditing if needed but not all transactions need continuous evaluation.
This document discusses corporate performance management (CPM) and the challenges of financial consolidation and reporting. It promotes CPM software from Cognos as a solution to automate and streamline financial consolidation and close processes. The software aims to address issues companies face with manual and error-prone consolidation using multiple systems and tools. It provides pre-built reports and functionality to help standardize processes and controls for improved data quality, accountability and auditability. Screenshots demonstrate consolidation management features for hierarchical organization, data submission and review, and consolidation steps.
The document discusses how to measure business resiliency through defining key performance indicators (KPIs) and key risk indicators (KRIs). It recommends establishing a business resiliency scorecard to track the maturity of business continuity management programs, risk versus loss metrics, and the level of protection against business requirements. The scorecard framework focuses on methods for gathering data and integrating it with the IT infrastructure landscape in order to control the alignment between business continuity plans and business operations.
The document discusses how businesses can do more with less using business intelligence (BI). It outlines how implementing BI with QlikView can increase productivity, revenue, and cash flow while decreasing costs. The document provides a case study of how the Durban ICC center in South Africa automated most of its reporting and analysis using QlikView, saving money by reducing staff and providing near real-time data. It highlights benefits like one-click management reporting, automating non-financial reporting, and improving monitoring, which led to savings in areas like telephony costs and debt collection.
Retail and Wholesale Consumer Centric MerchandisingDave DeBonis
More than 1500 retailers and retail manufacturers use QlikView for better decision making. QlikView provides concise and interactive dashboards and reports across key areas such as merchandising, marketing, store operations, supply chain, and finance. QlikView creates value through its patented associative search approach that allows users to quickly access and analyze data from multiple sources in real-time to gain insights for improved business decisions.
Are Your Account Reconciliations in Good Shape?Justin Johnson
This presentation demonstrates how finance, accounting, audit and compliance executives can further ensure the integrity of their balance sheets—and ultimately financial reports—by implementing software to automate the traditionally manual, labor-intensive and spreadsheet-driven account reconciliation process.
The document discusses key aspects of analyzing financial statements and performance using ratios. It covers analyzing liquidity, activity, debt, and profitability using various ratios such as the current ratio, quick ratio, cash ratio, debtor days, creditor days, inventory turnover, gross margin, net margin, and compound annual growth rates. Financial ratio analysis is an important tool for assessing a company's financial health and performance over time.
The document discusses key aspects of analyzing financial statements and performance using ratios. It covers analyzing liquidity, activity, debt, and profitability using various ratios such as the current ratio, quick ratio, cash ratio, debtor days, creditor days, inventory turnover, gross margin, net margin, and compound annual growth rates. Financial ratio analysis is an important tool for assessing a company's financial health and performance over time.
Con8154 controlling for multiple erp systems with oracle advanced controlsOracle
This document summarizes a presentation about Oracle GRC Advanced Controls. It discusses how Intercontinental Exchange (ICE) implemented Oracle Advanced Controls to gain visibility into risks across its two ERP systems - PeopleSoft and Oracle EBS - after acquiring NYSE. The implementation involved over 200 security, configuration and transactional controls across both systems to improve auditability, operational efficiency and compliance. Benefits included increased automation and analytics capabilities.
HR search is critical to a company's success because it ensures the correct people are in place. HR search integrates workforce capabilities with company goals by painstakingly identifying, screening, and employing qualified candidates, supporting innovation, productivity, and growth. Efficient talent acquisition improves teamwork while encouraging collaboration. Also, it reduces turnover, saves money, and ensures consistency. Furthermore, HR search discovers and develops leadership potential, resulting in a strong pipeline of future leaders. Finally, this strategic approach to recruitment enables businesses to respond to market changes, beat competitors, and achieve long-term success.
Dive into this presentation and learn about the ways in which you can buy an engagement ring. This guide will help you choose the perfect engagement rings for women.
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...Herman Kienhuis
Presentation by Herman Kienhuis (Curiosity VC) on developments in AI, the venture capital investment landscape and Curiosity VC's approach to investing, at the alumni event of Amsterdam Business School (University of Amsterdam) on June 13, 2024 in Amsterdam.
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
Garments ERP Software in Bangladesh _ Pridesys IT Ltd.pdfPridesys IT Ltd.
Pridesys Garments ERP is one of the leading ERP solution provider, especially for Garments industries which is integrated with
different modules that cover all the aspects of your Garments Business. This solution supports multi-currency and multi-location
based operations. It aims at keeping track of all the activities including receiving an order from buyer, costing of order, resource
planning, procurement of raw materials, production management, inventory management, import-export process, order
reconciliation process etc. It’s also integrated with other modules of Pridesys ERP including finance, accounts, HR, supply-chain etc.
With this automated solution you can easily track your business activities and entire operations of your garments manufacturing
proces
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
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1. RARC / CarLab
Research Center Presentation
Miklos A. Vasarhelyi
KPMG Professor of AIS, Rutgers Business School
Director of RARC / CarLab
2. Outline
• Structure
• Funding
• Advisory Board
• Continuous Assurance
– Continuous data assurance
– Continuous control monitoring
– Continuous risk management and assessment
• Evolving towards the future
2
3. Funding
• Very limited
• About 250K a year
• Currently
– KPMG
– Itau Unibanco
– Annual conference
– Small donations
3
4. Advisory Board
• Mr. Robert Elliott –Advisory Board Chairman - Partner (Retired) KPMG
• Alan W. Anderson, CPA - ACCOUNTability Plus, LLC - President
• Dr. Gerard Brennan, CAFÉ - Risk & Internal Control Officer – USA Siemens Corp.
• Stuart V. M. Campbell - KPMG, National Managing Partner - Assurance and
Advisory Services Center - KPMG LLP
• Michael P. Cangemi, CPA, CISA - President & CEO - Cangemi Company LLC
• Saty Ghosh - Senior Vice President – Internal Audit - IDT Corporation
• Sam Parker - Director, Management Systems Division - AT&T
• Amy Pawlicki - Director – Business Reporting Assurance & Advisory Services and
XBRL - AICPA
• Bill Titera - Partner - Ernst & Young - Chairman – Assurance Services Executive
Committee
• Lily Shue - Director - WISS Business Solutions LLC
• Joe Steakley - Senior VP Internal Audit - HCA – Hospital Corporation of America
• John Verver - Vice President, Services and Product Strategy - ACL Services. Inc.
4
5. The CarLab Research Efforts
• Siemens
– Continuous control monitoring (CCM)
– Audit automation
– Authorization and control structure project
• Continuity equations at HCA
• Itau Unibanco
– Branch monitoring and analytics
– Transitory Accounts
– Product sales monitoring
• Insurance company
– Forensics as CA -> the wires project
– Claims
55
7. The CarLab Research Efforts (2)
• P&G
– KPI project
– Order to cash project -> selective automation
– Vendor / payments project
• KPMG projects
– Technology adoption at CPA firms
– Technology adoption at IA departments
– The future of audit
– Rapid Prototyping Environment for data research (RPE)
– Dashboard / visualization / Advanced Analytics Representation
(DVAA)
• Telecom and Real Estate Co (TRE)
– Duplicate Payments detection 7
8. Carlab Research Efforts (3)
• AICPA – ASEC
– Common Data cube
• Visionary effort for providing a common auditor data platform and a
multiplicity of apps
• Partnership with many vendors
– ERM assurance
• Assurance on the processes of risk management
– Continuous audit
• Rewrite of red book and conceptualization and principles and criteria for
continuous audit
8
9. RARC and Our Teaching Mission
• The VPA effort
– Automatic course recording experiment just started
– A vision of free unencumbered educational stream for less
developed nations
• Clickers
– Experimentation with response system uses in different contexts
9
10. Out of the box
• Standards Formalization: issuing standards in autocode
10
11. AAA Impact of Research Taskforce 2009
• Perhaps the most important contribution of
accounting information systems research to practice
in the auditing and assurance domain is in
continuous assurance. The work of Vasarhelyi and
his colleagues on continuous assurance
demonstrates the application of strong theoretical
foundations to the practical problems of the auditor;
in this case the internal auditor.
11
12. Innovations in Continuous Auditing
• Modeling: continuity equations (HCA)
• Discrepancy detection -> multidimensional clustering
• Process mining -> at international bank in Holland
• Remote audit conceptualization – Siemens, P&G, Itau
Unibanco
• Automatic taxonomy creation
• Multiple multivariate applications
12
13. Monitoring and Control: 5 levels of activity
Continuous Reporting
Continuous Assurance
Transaction assurance, Estimate assurance, Compliance assurance,
Judgment evaluation
Analytic monitoring level
KPIs: Marketing/Sales Ratio •Drill Down
Inventory turnover •History
Intra-company transfers •Distribution
Relationship level
Sales change = Incremental Marketing cost * 2.7 +- 12% •Drill Down
E-Care queries = number of sales * 4.1 •History
Delay relationships •Distribution
Data level
•Product •Collection
•Investment detail •Aging of •Inventory •Drill Down
•Regions •Regions receivables •Distribution •History
•Clients •Clients •Clients •Ownership •Distribution
•Dynamics •Dynamics •Dynamics •Dynamics
Structural level
Cash Inventory
Marketing Sales
A/R Bad Debts Provisioning E-Care 13
5
17. Alerts,
Causal linkage,
Confirmatory
Follow the life-
CPAS effort cycle of the
extranets,
Advanced CRMA
application,
analytics linked to
• This methodology will change
different timing for
processes,
different cycles
data rich, new
the nature of evidence, Audit by exception
methods
timing,
procedures and
effort involved in audit work.
17
18. Continuity Equations / Long Distance Billing
reservations
flights
Billing colections
R e c e iv in g C a ll C re a tin g d a ta s e ts S p littin g c a ll P o s tin g f ro m o n e R a tin g e a c h
d e ta il d a ta fro m o n e -to -o n e d e ta il in to b ille r file to a c c o u n ts B illa b le
in d e p e n d e n t m a n y -to -m a n y file s to b e in s e v e ra l b illin g C u s to m e r
te le p h o n e o n e -to -m a n y ' p o s te d to c y c le s
c o m p a n ie s in d iffe re n t
m a g . ta p e s b ille rs
1 2 3 4 5
18
19. CPAS OVERVIEW
System
System Operational Reports
Workstation
DF-level 2
Operational Operation
Report al
Report
DF-level 1 DF-level 1 DF-level 1
Operational
Report
Filter
Alarm
DF-level 0
Data Flow Diagrams
Database
Reports Analytics Metrics
20. Lessons from HCA project
• Intricate processes can and must be monitored
• This may be done at the transaction levels, in
addition to more aggregate levels
• Models are necessary that are adaptive and can
react to current circumstances
• Errors may be automatically corrected
• A tool may be derived from the performed work
that could be superior to existing tools
20
21. Metlife
• Data stream of over 200K wire transfers
• Data only currently available for the wires and the records
possess little information
• Little context knowledge of the major feeding streams
• No fraud training data available
• Worked during the audit supplementing the audit team work
• Developed a series of data filters relating to specific
conditions and trends
• Working on an aggregate weighting model
• Need in the field verification of picked data
21
22. Metlife (Project 2-3)
• Usage of clustering techniques to extract
aberrations in data in parallel to the above
discussed effort
• Usage of clustering techniques in the evaluation
of exceptions in life insurance claims
22
24. 60.00% Cluster by Insured information
50.00%
POPULATION
40.00%
663
14000
30.00%
15500
31000
20.00% 106103
1023000
10.00%
0.00%
cluster0 cluster1 cluster2 cluster3 cluster5 cluster6 cluster7 cluster8
Population 22.60% 47.05% 7.21% 17.19% 3.43% 0.64% 1.55% 0.33%
663 28.89% 44.02% 3.84% 20.54% 1.35% 0.45% 0.68% 0.23%
14000 19.02% 50.92% 1.23% 26.99% 1.23% 0.00% 0.00% 0.61%
15500 14.40% 56.27% 2.11% 23.12% 2.38% 0.13% 0.53% 1.06%
31000 56.22% 19.40% 3.98% 16.92% 1.99% 0.00% 1.00% 0.50%
106103 43.27% 35.67% 0.00% 20.47% 0.58% 0.00% 0.00% 0.00%
1023000 4.49% 52.65% 0.82% 39.59% 2.45% 0.00% 0.00% 0.00%
Cluster 0 Cluster 1 Cluster2 Cluster3 Cluster5 Cluster6 Cluster7 Cluster8
We can cluster claims using different groups of attributes and flag the claims
from specific groups in specific clusters.
Several clustering of different groups of attributes can make up the score.
25. P&G (work with the audit innovation team)
• KPI projects
• Automating order to cash
• Vendor files / duplicate
payments
• Risk dashboard
25
26. KPI project
• Company has facilities in over 160 countries
• Some facilities are manufacturing, some are pure distribution
and sales
• Content is local and world sourced
• Substantive part of the work is building models for inventory
and sales flow and trying to understand / model the level and
flow variables
• The objective is to detect out of the normal events both of
business and exception nature (errors and fraud)
• There are 4 large ERPs feeding the data / data is extracted in
ACL and modeled in SAS
• 16 different models have been developed and are being
tested 26
27. Order to Cash Project -> Selective
Automation
• This project aims to selectively automate parts of the audit
using order to cash as the context
– Audit action sheets
– Taxonomization of protocols
– Change of nature of evidence
– Classification of automation level
• Manual
• Deterministic
• Table comparison
• Historical / stochastic
– Architecture of the Structure
– Prototyping of selected models
27
29. Siemens Projects
• Focused on audit automation
– First project looked at automating CCM
in SAP
– Second project focused on a wider
scope of automation
– A third project would think about
reengineering the audit action sheets
– The fourth project aims at formalizing
SOD, activities, and control structures
29
30. The Siemens Project Learnings
• ERPs are very opaque
• Ratings schema are used and desirable
• 20-40% of the controls may be deterministically
monitored
• Maybe other 20-40% may be convertible to be
monitorable
• New form of alarm evidence that we do not know
how to deal
• Continuous risk management and assessment
needed for weighting evidence and choice of
procedures
30
32. • CRMA is a real time based integrated risk assessment
approach, aggregating data across different functional tasks
in organization to assess risk exposure, providing reasonable
assurance on firm’s risk assessment.
• CRMA continuously computes key risk indicators (KRIs) with
firm’s cross-functional data from its key business processes,
as well as from external sources and validates them against
whether they are linked to the firm’s risk exposure.
33
33. • KRI provides early warning systems to track the level of
risk in the organization
• KRI can be identified through analysis of key business
activities
– 6 steps for KRI identification (Scandizzo, 2005)
• Well identified and computed KRIs provide a reliable
basis for computing the riskiness of firm for specific risk,
such operational risk, liquidity risk, as well as the overall
riskiness of firm.
– f(KRI(i),KRI(ii),…KRI(n))= Risk exposure
– External risk factors may be mapped manually into the
computation of KRIs and risk exposure.
34
34. CRMA
KRI
CDA CMM
f(KRIs) =
Risk exposure KRI
Enterprise System
Accounting Process 1 R&D
HR Process 2 Marketing
Purchasin Process 3 Warehouse
g
36
35. The CarLab Research Efforts
• Siemens
– Continuous control monitoring (CCM)
– Audit automation
– Authorization and control structure project
• Continuity equations at HCA
• Itau Unibanco
– Branch monitoring and analytics
– Transitory Accounts
– Product sales monitoring
• Insurance company
– Forensics as CA -> the wires project
– Claims
3737
36. Process Mining
Mieke Jens (Hasselt University)
Michael Alles (Rutgers Univ.)
38
37. What is Process Mining of Event Logs?
• The basic idea of process mining is to extract knowledge from
event logs recorded by an information system. Until recently,
the information in these event logs was rarely used to analyze
the underlying processes. Process mining aims at improving
this by providing techniques and tools for discovering process,
control, data, organizational, and social structures from event
logs. Fuelled by the omnipresence of event logs in
transactional information systems… process mining has
become a vivid research area.
• http://is.tm.tue.nl/staff/wvdaalst/BPMcenter/process%20mining.htm
3939
38. An Example of An Event Log of an Invoice
Invoice number 003 Invoice number 003
Input data
Supplier: AT&T Supplier: AT&T
Posting date: Feb 10th 2010 Posting date: Feb 10th 2010
120 USD 120 USD
Description: internet services Jan 2010 Description: internet services Jan 2010
‘Signature of John’ ‘Signature of John’
‘Signature of Pete’ ‘Signature of Pete’
PLUS
- ‘Create Invoice’
Timestamp: Feb 12th 2010; 08:23 AM
Originator: Mike
Fields: supplier: AT&T, posting date:
02-10-2010, value: 100 USD,
Description: internet services Jan 2010
Meta-data
- ‘Change’
Timestamp: Feb 12th 2010; 08:43 AM
Originator: John
Field changed: Value
Value old: 100 USD
Value new: 120 USD
-‘Sign’
Timestamp: Feb 12th 2010; 08:44 AM
Originator: John
Figure1: Visualization of Input Data and
Event Log Data of an Invoice 4040
39. Research Team (all in AIS department
but multidisciplinary background)
• Miklos A. Vasarhelyi, Prof. II (Continuous Auditing)
• Alex Kogan, Prof. – (Computer Scientist)
• Michael Alles, Professor –( Economics)
• Helen Brown (Auditing)
• Don Warren, Professor –( Audit Practice)
• Trevor Stewart, Professor (Retired D&T partner)
• Silvia Romero – faculty Montclair University
• Yong Bum Kim – PhD Student (Statistics)
• Daewoon Moon – PhD Student (Risk Management)
• Ryan Teeter – PhD Student (Computer Science)
• Qi, Liu– PhD Student
• Hussein Issa– PhD Student
• David Chen– PhD Student (Knowledge Engineering)
• Danielle Lombardi - PhD student
• JP Krahel - PhD student
• Karina Chandia - PhD Student
41
41. RPE Overview
•Client Challenge: External audit work and audit-related advisory services progressively
incorporate advanced analytics and knowledge bases.
•Area of Research: Evolved application of analytic methods
•Potential Use: Building on CAR-Lab experience from client projects (general ledger,
transitory accounts, claims, wires, audit automation, loans, credit, with representative
datasets for experimentation and demonstration) and employing existing public domain
packages (such as WEKA or D), perform the following:
– Create masked datasets for demonstration of different techniques.
– Focus on technologies to deal with real-time and archival data feeds, in particular
screening and automatic pattern recognition. A wide set of management problems falls
into this domain which is being changed by the constant updating of data.
– The software tools, data, and models available will allow for testing the adequacy and
demonstration of capabilities of advanced analytics.
•Example of Output: Use continuity equations, automatic error correction, delayed time
contingent equations, and other linear methods to represent HCA transaction flow
*See CAR-Lab-related qualifications and experiences on following pages
42. RPE New Analytic Methods for Data Research
Develop applications for continuous transaction monitoring, continuous
controls monitoring, and continuous risk assessment/monitoring using:
– Continuity equations – Rule based systems
• Predictive modeling • Pure rules
• Automatic data correction • Hybrid
• Time lag / time series / cross- • Forensic ex-ante settings
sectional modeling – Clustering technology
– Machine learning • Fraud identification
• Trained / untrained • Identification of related
• Neural networks processes in a BI context
– Genetic algorithms • Graphic demonstration / item
– Logic / probit / and other identification / semantic domain
regression techniques usage demonstration
44. DVAA Overview
•Client Challenge: Develop dashboards for risk monitoring / develop other visualization
prototypes for continuous assurance (CA), continuous monitoring (CM), continuous risk
measurement and assessment (CRMA), and continuous controls monitoring (CCM)
•Area of Research: Risk and transaction monitoring and human-computer interaction
•Potential Use:
• Creation of KPI- and KRI-based views of the world in a continuous audit environment
including status-quo, projection, and interpretations
• Management routines / internal audit response to continuous assurance alerts /
alarm events
• KPIs and KRIs for selected major business processes and/or regulated industries
such as financial services or energy (trading businesses)
45. DVAA Overview (2)
•Examples of Output:
• Tied to the management of unobservable controls at a large ERP in an industrial setting ->
special artifacts for the representation of different controls, alarms for control deficiencies,
indices of control coverage, other graphics action objects
• Aimed at controlling the different dimensions of risk measurement encompassing direct
links to quantitative models as well as arbitrary qualitative items
• Tied to the management of large volumes of data in the understanding, management and
transaction investigation in a transitory account setting within a financial institution
46. DVAA At-a-Glance
•Estimated Hours to Accomplish Project: 730 Hours
•Expected completion date: April 2011
•Key Activities:
a)Design scenarios of audit support
b)Survey for existing products and research (EWP, EIS)
c)Understand key decisions supported
d)Match to analytical techniques
e)Create demonstration prototypes for 3 key dashboards (audit operations, KPIs and KRIs)
f)Understand interactions between dashboards and management / audit reaction
g)Create control representation in dashboards
h)Test procedures
i)Write up results
Deliverables:
•CAR-Lab dashboard and visualization prototypes
•White Paper on the usage of dashboards as the working papers of the future
48. Opportunities for Monitoring and Audit
• Creating Control system measurement and monitoring
schemata (control dashboard)
• Creating standards for Business Process Monitoring and
Alarming (to be able to detect variance)
• Exclude not time sensitive variables (e.g. depreciation, airport
fees, etc)
• Creation of alternative real-time audit reports for different
compliance masters
50
49. • http://raw.rutgers.edu
– A wide range of presentations / videos and papers from
the multiple CA and CR conferences promoted by Rutgers
• http://raw.rutgers.edu/GEACS3
51