1. Auditing Payroll Using IDEA

2. External vs Internal Audit Each different function has different requirements and purposes for audit. External audit focuses on key assertions and risks within the Financial Statements Internal Audit is more bespoke and seeks to understand whether a control is designed and operating effectively.

3. External vs Internal Audit The automation capabilities of IDEA are key to make the audit function more effective in the future for both internal and external audit. The Benefits of using Automation in IDEA are increased efficiency, increased capacity to ask more probing and strategic questions of the data and improved learning.

4. Internal Audit “The impact of data analytics on businesses continues to grow and Internal Audit is no exception. Professionals are increasingly expect to leverage the latest advanced analytics techniques to deliver greater efficiency and effectiveness at lower cost”

5. Internal Audit Import Iteration

6. External Audit External audit payroll testing is suited to automation
External Audit External audit payroll testing is suited to automation. It involves a number of payroll tests that can be automated within the remit of the audit testing strategy.

7. External Audit My colleagues at Grant Thornton have used IDEA and Visual Basic scripting language to create interactive payroll tests that can be used by audit teams. They have been scripted so that they rely upon input from the audit team and produce a range of tests on the basis of the information that the audit team has collected.

9. External Audit

10. External Audit

11. External Audit

12. External Audit

13. External Audit

14. External Audit

15. Thank you for listening. Please feel free to ask any questions.