Course Information
A Practical Approach for Ensuring IPE Requirements and Data Integrity (OFFERED VIRTUALLY)
Course Description
THIS COURSE WILL BE HELD VIRTUALLY.
“When we look at an audit, the failure rate has been in a range of 35 to 40%.”
Martin Baumann, the Chief Auditor for the Public Company Accounting Oversight Board (PCAOB) in a statement to the New York State Society of CPAs on January 24, 2014.
Mr.Baumann’s comment and the related PCAOB annual report triggered a dramatic change in the way auditors, both internal and external, reviewed and relied upon information produced by the organization for decision making and control environments. Expectations have risen dramatically regarding how auditors should identify, evaluate, and ultimately rely upon information generating within the organization. Ensuring data integrity for reliance in audit, data analytics and reporting is a crucial element in auditing.
This course will help auditors navigate the new requirements regarding Information Produced by the Entity (IPE) and ensure data integrity within their organization and audits. The course provides an interactive learning approach through lecture, case studies, examples, and exercises.
Class times each day are 8:15 a.m. to 11:50 a.m.
Course Objectives
Upon completion of this course, participants will be able to:
• Understand IPE and its uses in your organization.
• Understand the most common issues with IPE and how to identify them during an audit.
• Learn to evaluate the reliance on IPE in your organization and the importance of prioritizing the audit approach from a risk-based perspective.
• Learn a practical approach to understanding, documenting and testing the accuracy of IPE.
• Learn how to vet, validate, and ensure data integrity for all reporting and data usage.
This course will cover:
Data Reliability and Integrity
• Relevance
• Reliance
• Integrity
• Audit and Control Considerations
Auditing Data Reliability
• Audit objectives
• Audit evidence
• Defining audit evidence
• Evaluating sufficiency of audit evidence
• Evaluating internal controls
• Designing audit procedures
Information Produced by Entity
• What is considered IPE?
• PCAOB Guidance
• IIA Guidance
• ISACA Guidance
• COSO 2013
• Managing the additional requirements for testing
Information Produced by Entity Risk Assessment–A “Refresh Approach”
• IPE Life Cycle
• Identifying and Understanding IPE
• Understanding the type and purpose of IPE
• Assessing level of reliance
• Evaluating and prioritizing IPE
Information Produced by Entity Testing
• Relevant Systems & Technology Layers
• Source Data
• Report Logic
• Parameters
• Validating procedures
• IPE testing elements
• Evaluation of IPE
• Sample size considerations
Assessing Reliability of Data
• Key focus of the assessment
• Examples of assessments
• The assessment cycle during the audit
Instructors
Mary Breslin is the Founder of Verracy Training & Consulting and specializes in Internal Audit transformations, Operational and Financial Auditing, Fraud Auditing & Investigations, and Corporate Accounting.
Ms. Breslin’s career spans over 20 years in Internal Auditing, Management and Accounting for companies such as ConocoPhillips, Barclays Capital, Costco Wholesale, Jefferson Wells and Boart Longyear. With significant International experience, she has managed audit programs in more than 50 countries. Most recently, Ms. Breslin held the title of Vice President and Chief Audit Executive where she transformed a checklist audit function into a value-add audit department which regularly delivered measurable business results through the use of risk-based auditing, data analytics, continuous education and skill development for her leadership team and staff.
Mary was an early adopter of analytics for audit and has been utilizing data analytics in her career in both audit and fraud work for over 15 years. She has transformed the capabilities of audit functions using data analytics programs using ACL, IDEA and Arbutus Analyzer. Through her expertise and guidance, she has helped large global organizations leverage analytics to significantly increase coverage, automate continuous auditing and monitoring, and actively fight fraud.
Additionally, Ms. Breslin has extensive Fraud Audit and Investigation experience and has conducted major fraud investigations on multiple continents including large scale federal cases domestically. She has developed and implemented fraud auditing programs in various industries focused on both accounting and operations.
Ms. Breslin attended Rutgers University and received her BS in accounting, and an MBA from the University of Phoenix while living and working overseas. She is a Certified Internal Auditor (CIA), and Certified Fraud Examiner (CFE). She maintains memberships in the Institute of Internal Auditors (IIA), American Institute of Certified Public Accountants (AICPA), ISACA, the Society of Corporate Compliance (SCCE), and the Association of Certified Fraud Examiners (ACFE) and is currently an instructor and conference speaker for the IIA, The ACFE and ISACA.
Additional Information
TAC Rule 523.142(g) requires the CPE Sponsor to monitor individual attendance and assign the correct number of CPE credits. Attendance will be monitored throughout the day and CPE certificates will reflect actual attendance of each participant.