A Practical Hands-on Approach to Conducting Quantitative Analysis: 2-Day In-Person Seminar

By: Richard Cascarino, MBA, CRMA, CIA, CISM, CFE, Principal, Richard Cascarino Associates
Location :- San Francisco, CA | Thursday, October 11, 2018 | Friday, October 12, 2018

Course Description:

Quantitative Analysis Course | Join us in SFO, October 11-12, 2018

Attend this two-day course to learn the use of quantitative techniques to improve the quality and efficiency of your audit work. Combining financial and operating data can allow you to home in on high-impact areas.

A practical hands-on approach to conducting Quantitative Analysis has become a necessity since the spread of IT systems has made it a pre-requisite that auditors as well as management have the ability to examine high volumes of data and transaction in order to determine patterns and trends. In addition, the increasing need to continuously monitor and audit IT systems has created an imperative for the effective use of appropriate data analytic tools.

Learning Objectives:

  • Business Risks of using IT, related controls and IS assurance and audit concepts
  • What does an IT Audit engagement involve and approach to risk based IS audits
  • Overview of IS assurance and audit standards, tools and techniques
  • Planning & performing risk-based IS audit procedures
  • Reporting and follow up
  • An understanding of the scope of the emerging technology concepts, related issues & business risks
  • What factors to consider in your approach to auditing such technologies
  • Gaining understanding of the underlying assurance risks
  • Learn about global best practices and latest key research happenings

Areas Covered:

  • Analytical techniques for sharper insight
  • Operations Research and models
  • Analytical Review Procedures
  • Linear programming
  • Charting, Queuing and Game theory
  • Simulations
  • How to relate financial and operating results
  • How to relate ROI to operating results
  • Major terms involved in ethics and business ethics in particular

Who will Benefit:

  • Internal Audit Professionals
  • Chief Audit Executives
  • IT Management Professionals
  • Risk Officers & strategic management members
  • Internal control professionals

Course Outline

Day One (8:30 AM – 4:30 PM)
  • Lecture 1: Introduction to Data Analysis
  • This session will introduce the reader to the principles of information flow within organizations as well as data analytic methodologies and terminology.
    The focus will be on developing an understanding of where critical data exists for analysis, the obtaining of access and the selection of the appropriate analytical techniques.

  • Lecture 2: Understanding Sampling
  • This session will cover the fundamental assumptions underlying the use of sampling techniques, the nature of populations and the use of variables. Distribution frequencies and central tendency measurement will be covered as well as the impact on analysis of distribution characteristics. It will also examine the differences between judgmental and statistical sampling, the applicability of both in audit practice, and the dangers inherent in confusing the two. The differences in selection methods will be covered as well as their impact on the analysis and interpretation possible within the sampling methods.

  • Lecture 3: Types of Evidence
  • This session will examine the various types of evidence available to the auditor in order to evaluate both the adequacy and effectiveness of the system of internal controls. This will include the identification of population types and the division into sub-populations for analytic purposes. Differing collection types and evidence sources will also be identified.

  • Lecture 4: Population Analysis
  • This session will examine the differences between a given set of data in the standard benchmark in terms of central tendency, variation and shape of curve. In addition we will examine the fundamental principles of Baysian probability theory. In general, this is a methodology used to trying to clarify the relationship between theory and evidence. It attempts to demonstrate how the probability that the theory is true is affected by a new piece of evidence. This can be critical to auditors in drawing conclusions about large populations based upon small samples drawn.

  • Lecture 5: Correlations and Regressions
  • This session will examine the differences between correlations and regressions as well as the auditor's usage of both. It will focus on determination of the type of situation in which correlations and linear regressions may be deemed appropriate.

Day Two (8:30 AM – 4:30 PM)
  • Conducting the Audit
  • This session will examine how audit objectives are determined and how data analytics are selected in order to achieve those objectives. This will include the use of the appropriate risk analysis techniques in order to identify potential internal control failures. It will also cover the definition of “exception” conditions.

  • Obtaining Information from IT Systems for Analysis
  • This session will cover the assessment of IT systems in order to determine the sources of evidentiary data appropriate for analysis as well as the techniques the auditor may use in order to obtain, extract and, if necessary, transform such data to facilitate analysis.

  • Use of Computer Assisted Audit Techniques
  • This session will examine typical CAATs in common use in the selection of the appropriate technique based upon the type of evidence and the audit objective. Included will be the dangers to the auditor inherent in pre-judgment of expected results and the subsequent distortion of the analysis based upon these pre-conceptions. It will also examine the audit methodologies for the analysis of Big data. Big data is a term given to large datasets containing a variety of data types. Big data analysis allows the auditor to seek for hidden patterns and identify concealed correlations, market trends and other data inter-relationships which can indicate areas for improved operational efficiencies within business processes.

  • Fraud Detection using Data Analysis
  • This session will examine the techniques available to the auditor in order to identify the red flags and indicators that fraud may be occurring or may have occurred in the past as well as the obtaining of forensically acceptable data analytical evidence.

Meet Your Instructor

Richard Cascarino
Richard Cascarino
MBA, CRMA, CIA, CISM, CFE, Principal, Richard Cascarino Associates

Richard Cascarino,is the Principal of Richard Cascarino & Associates, a highly successful audit training and consultancy company based in Colorado and Johannesburg. He is a regular speaker at National and International conferences and has presented courses throughout Africa, Europe, the Middle East and the USA. Richard is a Past President of the Institute of Internal Auditors in South Africa and also a member of ISACA and the Association of Certified Fraud Examiners.

Richard was a member of the Audit Committee of the Department of Public Enterprises in South Africa and chairman of the Audit Committee of Gauteng cluster 2 (Premier's office, Shared Services and Health). He is the author of the "Auditor's Guide to IT Auditing" and the newly released “Corporate Fraud and Internal Control: A Framework for Prevention” both published by Wiley Publishing which is also used by universities worldwide.

Location :
San Francisco, CA
(Venue to be announced shortly)

October 11-12, 2018
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$1,199

Seminar One Registration

October 11-12, 2018, San Francisco, CA
(Registrations till September 26, 2018 - $1199)
(Registrations After September 26, 2018 - $1499)

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