Audit AnalyticsIntegrated Risk Analytics Solution for Smart Auditors

Simplify Audit | Deliver Results

Traditional Audit Challenges

Efficiency

Data Access

Incomplete

Quality Team

Risk Focused

1 2

3

4

5

Auditors today are either not able to addfull value or incurring high costs toachieve desired results

Audit Challenges – Comprehensive Risk

Efficiency

Data Access

Incomplete

Quality Team

Risk Focused

1

2

34

5

Risk Objectives - Comprehensive

Absence of ready reckoner of risks and exposuresmay hamper ability to deliver adequate assuranceto business owners

Potential Frauds Monitoring

Potent Frauds, trends and patterns based onindustry experiences may increase the possibilityof cutting leakages.

Potential Errors Monitoring

Eliminating generally committed Errors bybusiness process owners only when adequateawareness is created may increase internalcontrols.

Audit Challenges – Efficient Audit

Efficiency

Data Access

Incomplete

Quality Team

Risk Focused

1

2

34

5

Time Taken to Conduct Analysis

Excessive time taken to conduct audit routinesand analytics which may be significantly reducedor eliminated through automated tools andtechniques

Manpower Requirement

Expensive manpower may be deployed into otherhigh value adding activities allowing functions tobe managed through bots

Cost of Conducting Audit

Significant reduction of cost of audit by deployingspecialty plug ins, intelligence and insightful toolsthrough algorithm based packages

Audit Challenges – Direct Access to Data

Efficiency

Data Access

Incomplete

Quality Team

Risk Focused

1 2

34

5

Data in Databases

Technical problems in ability to gainunderstanding and assimilate complex data in thedatabases post access is a real issue

Data Volume

Large volume of data makes most of the currenttools and techniques redundant as processingcapabilities and size limitations pose analyticchallenges

Advanced Technologies

Countering rapid technological developmentswhere databases are in open source, big dataframework need more relevant management

Audit Challenges – Incomplete Study

Efficiency

Data Access

Incomplete

Quality Team

Risk Focused

1 2

3

4

5

Sample Studies

Every outcome of audit routine needs attentionwithout which audit objective of managementassurance is challenged

All Routines Completion

Limitation of sampling techniques may becountered by analyzing 100% of data with speed,accuracy, confidence which may not be possiblein traditional methods

All Areas Coverage

Every material area need to be covered withoutcompromise due to focus constraints, otherwiseminor processes can create major problems

Audit Challenges – Availability of Quality Team

Efficiency

Data Access

Incomplete

Quality Team

Risk Focused

1 2

34

5

Expertise Requirement

Complex audit challenges require higherexpertise that are either scarce or need in-depthcoaching thereby posing resource constraints

Attrition

Higher opportunities in competing sectors,professions or general poaching within trade maypose gaps in expectations and delivery

Continuous Training

Any level of team needs continuous learning andupgradation as process, technology and riskcomplexities are increasing rapidly

Comprehensive Solution

Efficiency

Data Access

Incomplete

Quality Team

Risk Focused

1 2

3

4

5

Integrated Align Associate Audit Analyticsor Smart Audit is a one stop solution forvarious challenges today’s audit firmsface…

How does it work - MethodologyAudit Planning

Understand Business

Risk Analysis

Data Collection

Data Analysis

Substantive Studies

Field Work

Statistical Analysis

Audit Planning

Understand Business

Risk Analysis

Data Collection

Data Analysis

Substantive Studies

Field Work

Statistical Analysis

Audit Planning

Understand Business

Integrated AA Audit

Analytics

Field Work

Audit Report Audit Report Audit Report

Audit Committee, CXOs, Senior Management, Business

Executives, Internal Auditors, Risk War Rooms

• Plant & Machinery• Power Utilities • Connected through DPUs

• ETL / Translation• Hexadecimal to Data• Cloud Upload

• Audit Warehouse• Big Data Framework• Indexed & Cleansed

• Analytics Engine• Business Intelligence• Visualizing Engine• Algorithm Builder

• Dashboard Host• Web-based• Multi-Platform• Control Room

• Dashboards• Analytic Packets• Advanced Audit Bots• Real-Time Monitor

Publish

Smart Audit Analytics – Process Explained

• Business Systems, • ERP & Applications

• Pre designed APIs• ERP Specific• Industry Specific

Remote Engagement - Explained

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Align Associate Risk Knowledge Base

Integrated to Live Client Database Server

• Plug & Play for Most of ERPs• Readymade Business Risks• Real-time Monitoring• Operational & Financial Risks• Reduces Data Analytics Time• Remote Back Office Support• Advanced Audit Bots

Engagement – Deliver Results

A. Audit Objective Assessment

• Assess Business Metrics• Study Business Processes• Map Exposures & Gaps• Identify Improvements• Map Risk Packets

B. New Risk Mapping

• Incase of new Risk• Map Data Source• Create Audit Routine• Design Risk Package• Test Results • Embed the Package• Coach & Handhold

C. Risk Monitoring

• Activate Risk Register• Identify Risk Exposures• Real time monitoring• Continuous Audit Support• Trigger Substantive Study

• Industry Risk Knowledge• Best Practices Base• Industry Benchmarks• 15 Years of R&D• Powerful Algorithms base• Metrics & Effect Expertise• Team of Multi Area Experts• Business Knowledge• 500 Plus Clients Exposure

D. Audit Field Work

• Compile Exposures• Conduct Field Studies• Finalize Material Errors• Identify Process Gaps• Compile Draft Audit Report• Capture Auditee Response• Implementation Tracker

E. Handholding Improvements

• Monitor Implementation• Control Self Assessment• Further Analytics Study• Capture Results & Rewards• Capture Savings

F. Audit Results

• Assess Results• Periodic Review• Reset Goals• Further Improvement• Refocus & Deploy

Align Associate Risk Knowledge Base

Align Associate has helped numerous corporates inmeeting their business goals. A smart organizationwhose team have expertise of working for Globalmajor corporates and have evolved a uniquemethodology of solution coupled with strongimplementation approach.

The organization has a team of ACAs, MBAs,Engineers, Tech Experts having all round corporatestrategy and business process expertise who workas a team to bring results. It is quite appreciated bythe corporate world at large for its commitment todeliver value.

• Started in 2003• Team of ACAs, MBAs, Engineers & Techies• 40 Plus Team of Experts and Growing• 400 Plus Clients • 500 Plus Projects• 1,000,000 hours of Management Expertise• 10 Plus Industry Segments• 10 Plus Countries• 90% Plus Satisfaction Rate• Ex-Big Four Consultants• Industry Specialists

Align Associate has all round exposure with regard to

• Strategic Planning, Performance Improvement• Business Transformation, Cost Management• ERP & Technical Reengineering, ,• MIS Reporting, Business Analytics & Intelligence

In our experience the above skills have helped companies inAdvisory Services right from Ideation to Implementation.

About Align Associate

Our 14 Years Research Says…

Directionless

Disengaged

Incompetence

Leakage

Complacent

Inefficient

Stressed

7 D

read

ful O

rgan

izat

ion

al D

ise

ases

• No Clear Purpose• No Strategic Direction• Management Confusion• No Clear Goals

• Employees not aligned• No Commitments• Politics & High Attrition• General Dissatisfaction• Indecisive

• No Expertise• Obsolescence• Incapable Team• Lack of Leadership

• Fraud & Pilferage• High Wastages• High Costs, Inventory• High Errors, Leakages• Damages, Low Margins

• Casual Attitude• Careless Culture• Low Energy• No Monitoring• Inaccessibility

• Process bottlenecks• High Breakeven• Delays & Duplication• Under utilization• Excess Capacities• High Idle Time

• Cash Crunch• Delayed Payments• Unaffordability• Management Strain• No Investments• Negative Growth

• Right size Inventory• Procure what customer wants• Improve stock churn rate• Reduce working capital

• Improve employee productivity• Increase performance• Enhance profit per employee• Multiply efficiency

• Reduce costs • Increase profitability• Reduce interest burden• Enhance cost efficiency

• Improve Gross margins• Decrease Direct Costs• Increase recovery rates• Enhance yield, utilization,

productivity

Business Efficiency Improvement – What ?

• Increase Sales performance• Improve Customer satisfaction• Achieve targets and growth• Multiply markets and depth

• Specific problem solving • Powerful fact based solutions• Razor sharp focus to resolution• Handholding till improvement

Energy Analytics

Thank You

Alignassociate.com