let the data do the work! !
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Data Analytics . Let the data do the work! !. David W. Crotts – Senior Auditor Sharon M. Kurek – Director. Data Analytics . Objectives of Data Analytics How Virginia Tech uses it What other universities do?. Why Data Analytics?. - PowerPoint PPT PresentationTRANSCRIPT
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Let the data do the work!!David W. Crotts – Senior Auditor
Sharon M. Kurek – Director
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•Objectives of Data Analytics•How Virginia Tech uses it•What other universities do?
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•Provides a uniform method of analyzing statistics related to routine tests of large data set•Reduces large data sets into more meaningful data sets for targeted sample selection.
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• Tests of controls related to university wide policies and procedures (e.g., payroll, purchase cards, funds handling)
• Formerly completed during risk-based audits; became separate audit type in 2004
• Completed at the Dean or Vice President level on a five year cycle
• Random sampling on data sets of up to 10,000 records
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Senior Management Areas EEs
Fixed Assets P-Card
Deposits (in millions)
Athletics 740 1,327 $445,779 $41.4
Architecture 409 2,249 $375,761 $0.5
College of Engineering 2,311 14,742 $1,781,666 $2
College of Science 1,269 7,982 $643,297 $0.2
Veterinary Medicine 602 3,281 $323,267 $10.4
VP for NCR 20 66 $68,348 $0.004
VP for Administrative Srvcs. 965 3,123 $351,696 $17
VP for IT 527 8,522 $182,203 $2.7
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• Access to data– System generated reports– Customized queries– Full system database dumps
• Validate your data
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• Summarize data by organization code
• Stewardship tests– Current custodian assigned–Missing/stolen assets– Assets assigned as “Home Use”
• Assets not inventoried in two years.
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• Summarize data by organization code and by cardholder– No. Cardholders or Last Purchase Date– Purchases (No. and $$)– Credits (No. and $$)– Total charges– Avg. charge
• Identify purchases made over the weekend
• Identify possible split transaction
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• 100% testing on timely electronic leave report submissions
• Summary data by employee on number of leave hours taken
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• Identifying exposures to business risks and controls designed by management to reduce those risks.
• Various areas audited:– Academic Units– Research Institutes and Centers– Central Oversight Units• OSP• Controller’s Office• Student Financial Aid
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• Query identifies late submission of Personal Activity Reports (PARs)• Office of Sponsored Programs
enters PARs certification date into Banner • Determine the difference between
the PAR Submission date and due date per policy
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• Query identifies faculty reporting 100% effort on federal research projects who are also teaching. • PARs that report 100%
federal effort• Compared to Class Schedule
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• Query identifies funds open six months past termination date
• Project End Date – The date a project ends according to the grant.
• Fund Termination Date – The date the fund associated with the grant can no longer have any charges or journal entries posted to it.
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• Indirect Cost Rates – differences from approved rates
• Departmental Timekeeping – changes made by appropriate supervisor
• Efficiency Rates• Financial Aid Payments made to
USFA employees
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What is your audit shop doing?