CPE: 1.5 hours

Field of Study: Communication

Knowledge Level: Basic

Prerequisites: None

Data analytics has helped transform how employee expense, accounts payable, IT risk management, and enterprise security data is managed. The Packaging Corporation of America is using analytics to add value by assisting in the reviews of unusual transactions, facilitating data extraction, and improving reporting and audit rule definitions within our employee expense application. Data interrogation tools have given us the ability to develop sophisticated risk analytics that are more advanced than random sampling, manual spreadsheet manipulations, or business intelligence.

From data classification to auditing and reporting, the use of this technology is helping to shape the future of our business processes. As we grow, we will continue to incorporate data analytics in more audits that increasingly encompass more areas of the company. By laying the groundwork now, we will be able to use our data in ways that were not possible before. Using data interrogation tools has improved efficiency and coverage by combining decentralized datasets related to employee expenses into a single source for analysis. A library of 74 scripts with over 40 test cases was developed to identify issues ranging from fraud to policy gaps. We have been able to successfully implement continuous monitoring for all employee expense activity over the last 18 months. As a result, audit rules within the employee expense application have been improved to prevent exceptions that were not previously flagged, and broadly defined expense guidelines are in the process of being transformed into updated policies and procedures.

The learning objectives for this session are:

1. Demonstrate data interrogation techniques with industry standard tools.
2. Demonstrate storytelling with data analytics and how to effectively visualize the results.
3. Provide the audience with techniques on extracting value from decentralized data sets.
4. Provide the audience with lessons learned from developing data analytics programs for a Fortune 500 company.

CPE: 1 hour

Field of Study: Auditing

Knowledge Level: Basic

Prerequisites: None

CVS Health is so committed to Data Analytics that they have launched a Dedicated Data Analytics Team to support the entire organization, as well as implemented programs to enhance data analytics within internal audit. The session will begin with a description of the Dedicated Data Analytics program and the benefit to the organization as a whole.

From there, the session will focus on CVS Health’s belief that every member of the Internal Audit Department should have the skills and ability to utilize and incorporate data analytic techniques into Financial, Operational, Compliance and SOX audits. To accomplish this, data analytics training, support and tools (e.g. Alteryx) is provided to all 200+ audit professional within CVS Health Internal Audit Department.

To continue to build on this strategy, the CVS Health Pharmacy Services Segment Internal Audit Team has been given dedicated data scientist to support and consult the team on all audit work, training and development, and developing a segment specific Internal Audit data analytics strategy.

Attendees will hear about how the audit staff collaborates with the data scientist, the tools and techniques they utilize, as well as case studies and success stories.

The learning objectives for this session are:

1. Provide an overview of the CVS Health Internal Audit data analytics strategy and how this strategy helps Internal Audit and the organization accomplish their objectives.
2. Share the tools, techniques and strategies utilized by CVS Health Internal Audit to create and develop a “best in class” data analytics function.
3. Demonstrate the role training, development and leadership support can play in empowering Internal Audit to utilize data analytics.
4. Provide specific examples and case studies how data analytics and automation has been successfully used.

CPE: 1 hour

Field of Study: Auditing

Knowledge Level: Basic

Prerequisites: None

Artificial intelligence or “AI” is often referred to though the capabilities of AI are generally not well understood as well as the value that may be obtained. There isn’t yet even a single set of AI terminology that can be agreed upon to use. Tanmay will answer the questions of what AI is, what it's capable of, what it’s not capable of, and how might AI be used by internal auditors in their professional and personal lives.

During the presentation, Tanmay will display transforming examples of this power.

CPE: 1.5 hour

Field of Study: Information Technology

Knowledge Level: Basic

Prerequisites: None

Having to do another boring change management audit using the same old methodology? Providing minimal value to the company and the department?

With the advent of big data internal, audit departments have more information at their fingertips than ever to identify risk events. In this session, we will discuss how to analyze and monitor large data sets to provide insights into your environment. Consider the potential value internal audit can bring by providing the business the ability to correlate system changes to customer impact. With the advancements in technology, the ability to automate the analysis of this big data has been realized. We present two cases in which Discover's Internal Audit Data Science team has successfully created real-time full population review processes which will drive dynamic risk assessments, audit scope, and resource efficiencies, while providing valuable insight for the business.

The learning objectives for this session are:

1. Understand How Advanced Analytics is Changing the Audit Landscape.
2. Recognize Opportunities for Leveraging Advanced Analytics in Internal Audit.
3. Provide specific examples and case studies how data analytics and automation has been successfully used.

CPE: 1 hour

Field of Study: Auditing

Knowledge Level: Basic

Prerequisites: None

Zurich Insurance is on a journey to implement Data Science within their Global Internal Audit Department using a 2 layered approach. The first layer consists of a team of 5 Data Scientists. The second layer consists of local auditors who are being trained to become Data Analysts with guidance from the 5 Data Scientists. Both layers are supported by 2 global managers.

These 5 Data Scientists are located across the globe in different continents to provide regional level support. One of their main functions is to work on “Theme” audits. Theme audits are generally large, multi-country audits designed to provide a picture on how a similar process is implemented globally. Data Science is used to better understand the relationships between the countries and the process being audited.

The local Internal Auditors are being trained to become Data Analysts using a specialized Data Analytics Software. The goal is for them to perform data analytics themselves when working on localized audits. Zurich Insurance is so passionate about the importance of data analytics that time for analytics is built into most audit workplans.

During this presentation, Mr. Foresto will share successes and challenges faced along this journey. He will share best practices with the hope that the audience may avoid similar road bumps as they start to implement Data Science within their Internal Audit departments.

The learning objectives for this session are:

1. Describe the benefits data science can provide to an internal audit department
2. Understand common mistakes made in trying to incorporate data science in internal audit
3. Describe best practices when attempting to incorporate data science in internal audit

CPE: 1 hour

Field of Study: Auditing

Knowledge Level: Basic

Prerequisites: None

CPE: 1 hour

Field of Study: Auditing

Knowledge Level: Basic

Prerequisites: None