Leveraging Data Analytics to Detect Fraud
Track: 1. IT Audit, Cyber Security, Fraud Session Monday, September 16, 2019 3:10 - 4:00 pm
If robust data analytics programs existed 20 years ago, would Enron, WorldCom, or the countless other major corporate fraud scandals ever have reached the magnitude they did? Would they have occurred at all? All organizations are subject to fraud risk. Association of Certified Fraud Examiners (ACFE) studies show that an average of 5% of revenue is lost to internal fraud schemes. Utilizing effective data analytics as part of an organization’s fraud management program can reduce the fraud scheme’s average duration from 18 months to mere weeks, or in some cases, eliminate it. More importantly, a robust fraud data analytics program can be the strongest deterrent in an organization.
Why Emotional Intelligence and Critical Thinking are the Keys to Success in Audit
Track: 5. Leadership, Diversity & the Role of the Future Auditor Session
Tuesday, September 17, 2019 10:00 - 10:50 am
Statistically, individuals with high levels of emotional intelligence (EQ) are more successful regardless of industry or role. And today’s expectations for the internal auditor absolutely require critical thinking. Fortunately, we can improve and increase both our EQ and critical thinking skills. This session intends to explain the basic concepts for both, why we need both in audit, and methods and techniques that can be immediately implemented to improve both. Critical Thinking skills enable auditors to understand complex issues, problem solve and understand the different points of view and perspectives of audit clients and business partners while Emotional Intelligence helps us remove common communication barriers and effectively get through to audit clients and colleagues.