Dashboard Reporting for Internal Audit - Chapters … for continuous auditing across processes Continuous Auditing Continuous Auditing & Monitoring is a set of Processes used to support

Dashboard Reporting for Internal Audit

Jordan LloydSenior ManagerDeloitte & Touche LLP

A high level summary of status of planned auditsCAE Dashboard A high level unified view showing

risk ratings of the planned audits as derived from the risk assessment along with the status of the audits by completion, audit ratings, processes and location

Value- Consolidated view of all planned audits- Allows drill down by risk rating, status, audit rating, process and location- Eliminates the need for multiple reports

Ryan Woodward, Sr. Manager, Global Seller Trust

Risk Score Aggregation and 3rd Parties Audit Prioritization3rd Parties Risk AssessmentA set of over 80 risk metrics monitored across a portfolio of thousands of 3rd parties.

Weights and scores applied and aggregated at 3rd party level to identify target 3rd parties with the highest risk for audit prioritization.

Risks is further categorized to facilitate targeted review.

Value- Audit prioritization no longer assigned based on a fixed schedule or cycle- Insights along a spectrum of risk genres (financial, operational etc.)

Risk Score Aggregation and Site, Process Priority IdentificationLocation and Process Risk Assessment

A summarized view of risk scores by locations and business processed derived from survey results rolled out to different stakeholders to assess the risk posture associated with business processes

Value- Site visits are no longer assigned based on a fixed schedule or cycle- Insights along a spectrum of risk genres (cyber security, financial, etc.)

Integrated Audit Schedule Geographical Coverage

StatusCoveredNot Covered

Country % of Total Revenue

Bangladesh

Brunei

Bulgaria

CzechRepublic

Ecuador

Ivory Coast

Mozambiq..

Pakistan

Sri Lanka 0.014%

0.000%

0.000%

0.048%

0.018%

0.058%

0.088%

0.020%

0.000%

Countries Not Covered

99.75%

% of Total Revnue* (Countries Covered)

0.25%

% of Total Revenue(Countries not Covered)

Visualization to represent the audit universeAudit UniverseIn a global set-up, majority of the organizations have entities or set-ups across countries and cities. The complicated nature of local compliance needs followed by the need to provide assurance on internal controls across all locations and at the same time have a unified view of all audits across the organization is the driving theme for this visualization. It harnesses the data from different audit schedules across different time periods and presents a unified view of the audits completed across locations, processes and time.

Value- Consolidated view of all planned audits across locations and processes- Provides instant identification of location not audited over an extended period of time

Visualization to represent the audit universeAudit UniverseIn a global set-up, majority of the organizations have entities or set-ups across countries and cities. The complicated nature of local compliance needs followed by the need to provide assurance on internal controls across all locations and at the same time have a unified view of all audits across the organization is the driving theme for this visualization. It harnesses the data from different audit schedules across different time periods and presents a unified view of the audits completed across locations, processes and time.

Value- Consolidated view of all planned audits across locations and processes- Provides instant identification of location not audited over an extended period of time

Integrated Audit Schedule and Audit Findings Dashboard

Audit Schedule by Audit Type Audit Findings Summary by Audit Type

ComplianceDivisional

Facility InspectionsQuality - Health & Safety

QualityFraud Risk Assessment

ICFRLocation

66

Countries CoveredOrganization

Type

Audit Type

Compliance Divisional FacilityInspections

Fraud RiskAssessment ICFR Location Quality Quality -

Health & Safe.. Grand Total

CorporateOrg Type 1Org Type 2Grand Total 764

178

535

51

142

74

60

8

395

74

278

43

28

8

20

12

5

7

10

5

5

7

4

3

150

150

20

8

12

Internal / ExternalInternal

All

All

All

All

100%

% of Scheduled Audits

MonthAll

Audit Type

100%

% of Findings

2,555

# of Findings

1.0 546.0# of Findings

All

Analytics for continuous auditing across processesContinuous Auditing

Continuous Auditing & Monitoring is a set of Processes used to support business performance management and improve financial governance in an effort to minimize loss and preserve/improve overall value. It is designed to collect data from processes, transactions and accounts to support audit activities and continually improve business processes and activities while adhering to compliance standards

Value- Increase the cost-effectiveness of controls and monitoring through automated solution- Achieve timely, and inexpensive compliance to policies and regulations- Shift from periodic review with limited focus to continuous review

Cross-Industry

Multiple

Risk Assessment, Planning, & Fieldwork

Multiple

ContinuousAudit & Monitoring

Transactions

MultipleSystems

TimelyCompliance

Cost - effectiveness

Assess effectiveness of controls

Continuousreview

Dynamic and flexible audit plan

Process improvement

Processes

New SuppliersFeb

March April 2015 May 2015 June 2015 July 2015

August 2015

September 2015October 2015

November 2015 December 2015January 2016

$0K

$1,000K

$2,000K

Inv

0

100

200

Number of in$

$

$ $ $

$

$ $

$$

$ $

Invoices with new vendors

Americ.. Corpor.. Europe Middl.. Pacifi..0M

1M

2M

3M

4M

5M

Inv

0

200

400

600

800

Number o

$2.9M

$4.7M

$1.4M

$0.2M

$1.3M

Invoices by new vendors - by Region

Feb March

April 201 May 2015 June 2015 July 2015August 2015



0

100

200

Num New vendors created

< 00-500

500-1000 1000-2000 2000-5000 5000-1000010000-100000

>100000

0

200

400

600

# V

234

134

248

532

120

235

6 9

Stratification of invoice amountfor new vendors

422470

162,773

418638

196,501

417438

184,949

415493

253,572

414462

205,516

412503

182,567

411650

945,197

406559

268,768

406500

840,613

404576

930,945

Invoices by vendor

Spend Type3rd Party Spend

All

# of invoices raised

$10,566,760.35

Invoice amount1,998

# of invoices1.94%

% of total amount1.73%

% of total invoices1,315

New Vendors with activity in creation month

3rd Party Spend

All

Employee hours - Daily analysis

January Februa.. March April May June July0

50

100

150

200

250

Num

176186

198 198

157 169

195

2436 36

2633 33 31

190

212

231 231 229

212

193

# of employees with more than 16 hours a day Frequ..1 to 150

Employees with frequent excess hours (more than 16 hours a day)

January February March April May June July0

100

200

300

400

500

600

104

528

367

107

412419

393

483 471

4867 5759 65

434452

576590

575

469484

Total instances with more than16 hours a day Employee NameAll

Jan 1 Feb 1 Mar 1 Apr 1 May 1 Jun 1 Jul 1 Aug 1

0

50

100

150

Tot

Daily hours by employee (more than 16 hours a day)

Threshold fordaily hours

16

631

# of employeesexceeding thresh-

old

80,383

Total hours (ex-ceeding thethreshold)

EmployeeContractor

All

All

All

All

All


New Suppliers

Feb March




$0K

$1,000K

$2,000K

Inv

0

100

200

Number of in

$

$

$ $ $

$

$ $

$$

$ $

Invoices with new vendors

Americ.. Corpor.. Europe Middl.. Pacifi..0M

1M

2M

3M

4M

5M

Inv

0

200

400

600

800

Number o

$2.9M

$4.7M

$1.4M

$0.2M

$1.3M

Invoices by new vendors - by Region

Feb March




0

100

200

Num

New vendors created

< 00-500

500-1000 1000-2000 2000-5000 5000-1000010000-100000

>100000

0

200

400

600

# V

234

134

248

532

120

235

6 9

Stratification of invoice amountfor new vendors

422470

162,773

418638

196,501

417438

184,949

415493

253,572

414462

205,516

412503

182,567

411650

945,197

406559

268,768

406500

840,613

404576

930,945

Invoices by vendor

Spend Type3rd Party Spend

All

# of invoices raised

$10,566,760.35

Invoice amount1,998

# of invoices1.94%

% of total amount1.73%

% of total invoices1,315

New Vendors with activity in creation month

3rd Party Spend

All


Employee hours - Daily analysis

January Februa.. March April May June July0

50

100

150

200

250

Num

176186

198 198

157 169

195

2436 36

2633 33 31

190

212

231 231 229

212

193

# of employees with more than 16 hours a day Frequ..1 to 150

Employees with frequent excess hours (more than 16 hours a day)

January February March April May June July0

100

200

300

400

500

600

104

528

367

107

412419

393

483 471

4867 5759 65

434452

576590

575

469484

Total instances with more than16 hours a day Employee NameAll

Jan 1 Feb 1 Mar 1 Apr 1 May 1 Jun 1 Jul 1 Aug 1

0

50

100

150

Tot

Daily hours by employee (more than 16 hours a day)

Threshold fordaily hours

16

631

# of employeesexceeding thresh-

old

80,383

Total hours (ex-ceeding thethreshold)

EmployeeContractor

All

All

All

All

All

Risk Aggregation and Analytics for Procure to Pay AuditsProcure to Pay Review

Procure to Pay is a huge area with risks associated at multiple levels. Right from the Vendor Setup until Payments, there are interlinked sub-processes that can progressively add to the risk. The analysis performed aggregates many risk factors to create vendor level aggregations of risk scores based on triggers and behaviors observed in transactional data. The analysis also focuses on areas of potential opportunities by highlighting cases of missed discounts or potential recoveries

Value- Increased visibility of vendor spend and procurement process in it’s entirety- Quick identification of transactions that appear inaccurate/fraudulent- Risk aggregation to identify riskiest vendors and associated drivers

Cross-IndustryFinancial & Operation

Fieldwork

Accounts Payable

Analysis of Freight Spend and Risk ScoringFreight Analytics

Clients in the C&IP and E&R industries have a large volume of spend on Freight Movement. To add complexity to the process, there is usually a large ecosystem of carriers that transport materials and goods over different routes and transportation modes. A deep analysis of the freight spend helps bring risks across different factors like route, modes, carriers, plant etc. to the fore. The analysis also highlights areas of improvement via consolidation of freight, preferred carriers, cheapest carriers over routes etc.

Value- Increased visibility of freight spend over the entire spectrum of modes and routes- Quick identification of expensive carriers and routes with comparative view of relatively

cheaper carriers- Allows crisp data points for better negotiations with carriers and management of the

overall freight movement

Cross-Industry

Operations

Risk Assessment & Fieldwork

Freight

Analysis of Pricing within ProcurementPricing Analytics

Clients with major spend on purchase of materials generally rely on contractual terms for procurement of materials. However, there are risks associated with actual pricing that gets entered into the purchase orders. This analytic looks to analyze the variation in prices of materials over a period of time by vendors and buyers, and presents a risk ranked view to show instances of purchase with the maximum impact in terms of overages

Value- Increased visibility of prices at which materials have been procured- Quick identification of outliers in terms of expensive purchases compared to purchase of

same material at much lower price points- Shows outliers by vendors and buyers to allow for identification of trends of expensive

procurement

Cross-Industry

Operational and Financial

Fieldwork

Procurement

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Copyright © 2016 Deloitte Development LLC. All rights reserved.Member of Deloitte Touche Tohmatsu Limited

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Dashboard Reporting for Internal Audit - Chapters … for continuous auditing across processes Continuous Auditing Continuous Auditing & Monitoring is a set of Processes used to support

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