Risk and Internal auditing play a crucial role in risk management, fraud detection, and compliance assurance within organizations. With the rise of big data and sophisticated analytics tools, the risk and audit profession are undergoing a significant transformation. The use of data analytics in risk and internal auditing is not just a trend- it’s a game-changer. It presents an opportunity for auditors to streamline their operations, providing enhanced insights and assurance.

Course Objectives

This training program is designed towards building the
capacity of Risk and Internal Audit Professionals who make use of this data to
inform strategic decisions.

The primary objective is to
identify recurring patterns and emerging trends within the data.

By the end of this training course, the participants will
be able to:

      ·       Analyze and design analytical dashboard

      ·       Generate trends, patterns and behaviors from
data

      ·       Learn how and effectively use the data to
analyze trends

      ·       Build predictive models

      ·       Use tools and technologies to stay ahead of
competition

Applications of Data Analytics in Risk and Auditing

1.    Risk
Assessment: Data analytics tools can efficiently analyze large amounts
of data and identify patterns, trends, or anomalies that might indicate risk
areas. By applying statistical analysis and predictive modeling, auditors can
anticipate future risks and help the organization develop appropriate controls.

2.    Fraud
Detection: Sophisticated analytics can sift through vast datasets,
pinpointing suspicious transactions or behaviors. Machine learning algorithms
can learn from historical fraud cases and enhance their ability to detect
irregularities.

3.    Control
Testing: Instead of testing a small sample of transaction, risk and
auditors can use data analytics to assess the effectiveness of controls
over entire transaction populations. This provides a more reliable and
comprehensive view of the control environment.

4.    Reporting
and Visualization: Data analytics can transform complex
datasets into easily understandable visuals. This can help auditors communicate
their findings more effectively to management and stakeholders.

Training Methodology

This training is an interactive session as participants
from all cultures participate in this training program and share their distinct
office experiences and challenges. However, customized modules can be prepared
for organization specific learning requirements and needs.

Benefits

Organizational Benefits of employees who participate in the program will be as below:

·         Make better and efficient decisions based on the data and not intuition or perception.

·        Providing enhanced insights and assurance

·        Optimize business processes: Insurance data analytics helps you ensure operations are not just functional but also financially sound.

·        Save organizational cost and expenses by analyzing data with efficient tools

·        Risk assessment and mitigation: Staying ahead of risks is paramount for long-term business success

·        Incorporate innovative and progressive ideas leading to an increase in business and attract bigger and better clients.

 Who Should Attend?

Risk and Compliance Managers, Internal Auditors,
Accountants, Finance and Banking Practitioners, Graduates and Analysts with a
logical bent of mind looking to move to risk analysis, Policymakers in the
business.

Course Content

• Introduction to power bi
• Data preparation and transformation
• Data modelling
• Writing DAX
• Dashboading

Predictive analysis with python:

• model development and analysis
• Data collection, data cleaning and transformation
• Data exploration
• Supervised and unsupervised machine learning techniques