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Use Cases: Data Analytics

Data Analytics Assessment

Have you been incorporating data analytics into the standard audit process but feel you are not being as effective as possible? Verracy will assess your existing data analytics program with the intention of providing a proposed roadmap and framework for getting your program to the next level.

We believe every organization is unique. Some organizations have used analytics for years while others are just starting to realize its potential. Verracy’s focus is to help our clients create a data analytics strategy and program for their internal audit function by defining metrics to measure the return on any analytics approach being considered. We believe in starting with small but smart and realistic expectations that are readily achievable and moving forward deliberately, incrementally, and iteratively to create a continually evolving and expanding program.

No matter how far along the path your organization is toward developing an analytics program, an assessment and consultation will evaluate your progress to ensure the right conditions are in place to foster the long-term success of your analytics programs.

Automation of Continuous Auditing and Monitoring

Analytics is an investment, and we like to help our clients focus on achieving measurable results. Creating a successful continuous analytics strategy requires assessing your unique organizational challenges and risks, identifying relevant data, resources, and practical approaches, and establishing processes that grow your capabilities while enabling your audit department to do more with less.

Do you want to reduce hours spent on Sarbanes–Oxley?  Automate testing through continuous auditing. Analytic results can be automatically written to electronic work paper systems. We will work with your existing audit work paper systems provider to automate results, freeing up time for other projects that can add value.

Team Training

Developing in-house expertise and data analytics champions is challenging. The training provided by analytics tools teaches how to use the tool, but not how to create an analytics program and how to deal with the challenges and pitfalls that will be encountered. Verracy specializes in helping departments and individuals get better use of their data analytics tool, and more importantly, demonstrating how to build a sustainable program that will continue to expand. Our hands-on training courses advance learning through “doing,” and individuals will take away usable scripts for their organization.

Each course incorporates existing frameworks with real-world experience to get you the skill set that you can implement immediately. We can move you from the Ad Hoc stage of analytics to Continuous Auditing/Monitoring using sustainable methodologies. Learn the techniques, rather than the tools, to elevate your value to any organization.

Script Development

Verracy’s Data Analysts can take your data analytics program to the next level quickly. Our experienced professionals will work with your team to identify your analytics needs and develop scripts and/or continuous audits that are relevant to your organization’s objectives.

Increasing the value of your investment in data analysis software means reducing the time spent clicking through drop-down menus and typing in the same formulas. If you’re looking for guidance on developing scripted or automated procedures, we can help.

We offer service maintenance plans to review and revise scripts on a scheduled or as-needed basis to ensure your analytics program continues to align with organizational objectives.

Explore our Areas of Expertise

Ready to discuss your challenges with the experts?

Reach out to us today and let’s discuss how Verracy can help you successfully navigate complex issues in your organization.

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