Presentation Date: Saturday August 1, 2009
  Presentation Time: 1:00 pm-5:00 pm

CPE Session 15

Evolving Towards Audit Automation

Sponsored By: Strategic and Emerging Technologies

Presented By:

Michael G Alles, Rutgers University

Gerard "Rod" Brennan, Siemens

Washington Lopes da Silva, Unibanco

Alex Kogan, Rutgers University

James Littley, KPMG

Trevor Stewart, Deloitte

Miklos Vasarhelyi, Rutgers University

Description: Automating the Audit: A Field Guide to the State of the Art Objective: Survey and discuss the state of the art of technology, methodology and research into automating internal audit practices This CPE session brings together a global group of internal auditors and researchers who have actually implemented audit automation. In this session participants will learn how audit automation leading to CA has been carried out, what technologies are available and their strengths and weaknesses, and where auditing will go from here. • Miklos Vasarhelyi, Michael Alles and Alex Kogan - Rutgers University • Rod Brennan – Siemens • Washington Lopes – Unibanco • Trevor Stewart – D&T • James Littley - KPMG

1. introduction: the audit process 2. reengineering the audit process deconstruct the audit “outsourcing” parts of the audit remote audit 3. automating modified Analytical Review 4. automating audit steps (action sheets) 5. automating control monitoring 6. automating continuous data audit 7. automating risk monitoring 8. creating an evergreen opinion 9. using some evolutionary off-the-shelf audit tools Automating confirmations Evaluating and monitoring SOD Workpaper management 9. methodological issues

Field of Study: Auditing
Program Level: Advanced

Intended Audience: Audit academics and practitioners interested in the leading edge of audit thinking

Format/Structure: 1. introduction: the audit process 2. reengineering the audit process deconstruct the audit “outsourcing” parts of the audit remote audit 3. automating modified Analytical Review 4. automating audit steps (action sheets) 5. automating control monitoring 6. automating continuous data audit 7. automating risk monitoring 8. creating an evergreen opinion 9. using some evolutionary off-the-shelf audit tools Automating confirmations Evaluating and monitoring SOD Workpaper management 9. methodological issues

Learning Objective: Understand the leading edge of research and practice thinking in the use of automated methods in auditing.

Prerequisites: Understanding of the current audit environment and practices

Advanced Preparation Required: none

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