Deloitte introduced a new analytics platform for internal auditors to support the end-to-end audit process with data visualization, risk sensing and analytic techniques.
As a robust fraud analysis and analytics solution, the Deloitte Analytics Platform (DAP) enables internal auditors to identify, audit and report on organizational risk via a single platform that provides a comprehensive view into their organization’s transactions.
“The Internal Audit profession is in a state of transformation,"stated Carey Oven, managing partner of the internal audit transformation practice at Deloitte & Touche. "Stakeholders are challenging chief audit executives to do more with less and boost confidence levels in the outcomes. Deloitte is committed to helping CAEs deliver on that challenge and transforming the IA function through technology-enabled methodologies. This new analytics platform is just one way that we are delivering measurable and enduring impact to our clients by helping them to better manage enterprise risks and provide actionable audit results.”
The DAP equips internal auditors to:
- Make data-driven decisions to optimize operations while reducing risks and cost
- Bring greater integration across internal audit, risk management and compliance
- Gain further insight into emerging risks
- Continuously monitor controls, risks and indicators with a focus on performance and not control effectiveness
"Leveraging DAP's advanced visualization tools, we have a new way of perceiving issues, operationally or financially, such as identifying ineffective spend or revenue leakage; all because we can look at data differently," stated Neil White, principal of Deloitte & Touche and IA analytics leader. "Today's IA function is constantly challenged to provide value-added and relevant analyses of an organization's internal control structure, performance and productivity, governance, and management of risks, while also focusing on key emerging risks. The platform is one tool helping internal auditors serve their stakeholders as a trusted advisor with insight and enrichment."
The DAP uses a customizable library of several hundred indicators that can be generated for each transaction, business process and entity. The library uses a proprietary risk engine with predefined rules for combining and measuring indicators and profiles to assign different types of risk scores. This data is combined with a library of external sources, such as fraud perception indices, Office of Foreign Assets Control compliance lists to enhance the analysis.
The results of these risk profiles are available in customizable data visualizations in a web-based interface that can be reviewed, investigated or further narrowed and accessed locally or remotely.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access