© ACL Services Ltd.. Jan Beckmann Principal / Data Analysis Practice Leader Changing Strategies: Maximizing Results to Add Value to Your Organization

© ACL Services Ltd.

© ACL Services Ltd.

Jan Beckmann

Principal / Data Analysis Practice Leader

Changing Strategies:Maximizing Results to Add Value to Your Organization

3© ACL Services Ltd.ACL | Connections 2013

It’s not the tool, it’s what you do with it that

counts.

(but you have to have the right tools to even have a chance!)

2013 Brown Smith Wallace, LLC – All Rights Reserved


The IIA’s Definition ofInternal Auditing

Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a

systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and

governance processes.

4 2013 Brown Smith Wallace, LLC – All Rights Reserved


A New Perspective

More interesting audits

Go-to department

Make an IMPACT



Impact Skills Salesperson

Journalist

Editor

Politician

Word processing expert

Operations efficiency expert

Subject matter expert

Data analyst

Consultant

Accountant

Auditor6



How does audit make an IMPACT?

What is our only product?



Audit Reports

Effective reports:Clearly defined project objectives.An audit plan tailored to gathering report information.Knowledge of the reader.

8

Begin With the End in Mind



Project Objectives

9

•Example - Evaluate the adequacy of controls

Avoid vague objectives

•Example - Determine whether confidential data is protected from loss, manipulation, or unauthorized access

Use concrete and

measurable



Consider Different Audits

Data heavy areas where ACL is a superstar:

(something other than AP)

Self-insured health benefits– Big dollars and growing risk– Eligibility, claim payments, payroll withholdings– Typically not run by accountants

Inventory operations– Non-FIFO movements– Quantity adjustment trend analysis



Report Objectives

Management Responses you want to AVOID

11

What are they trying to say?

Why did they do this audit?

How bad is it?

So, is it good or bad?



Give ‘em the WIFM

Every issue quantified

Avoid neutral observations

Look where no one has looked before

Ask the “5 why’s”

Write to get results

Confront likely objections

Audit Objective - To affect positive change on the organization’s control environment.

ACL is the Key!!2013 Brown Smith Wallace, LLC – All Rights Reserved


Sell It

Sufficient factual evidence

No room for error in factual accuracy

Watch level of detail – include only what is necessary to persuade– Does it directly support your key point?– Does it show the significance?– Does it lead to your recommendation?

13 2013 Brown Smith Wallace, LLC – All Rights Reserved


What do you do with all of this?

•Get to the root cause

•Consider an appendix

Data integrity verification issues

•Scope and introduction

•Objectives and conclusions

All the work that was OK

•Provide details separately

•Report root cause

Complicated details

•Brag on your team and ACL

•Grow your budget to do more

Give Credit



Contact Information

Jan Beckmann, CPA, ACDA

Principal / Data Analysis Practice Leader

Brown Smith Wallace, LLC

1050 North Lindbergh Blvd

St. Louis, MO 63132

314.983.1254

[email protected]



17© 2012 ACL Services Ltd.ACL | Connections 2013

Documents

© ACL Services Ltd.. Jan Beckmann Principal / Data Analysis Practice Leader Changing Strategies: Maximizing Results to Add Value to Your Organization