Auditing often involves reviewing, analyzing, and interpreting thousands of reports and many more thousand data points. It can be an overwhelming and complicated task.
Up until recently, analytics for audit were limited to data sampling methods that rely on the review of only a small fraction of data. Data samples are never comprehensive, and thus create exposure and risk for your organization.
Excel has been a cornerstone of auditing workflows for many years. While not exclusive to the audit process, it remains a useful tool that supports auditing analytics. But as audit analytics inevitably become more involved, limiting your audit function to these tools alone can lead to errors.
Work with the tools you are already familiar with and avoid reliance on scarce and highly specialized resources. TeamMate Analytics is an Excel-based tool to streamline your workflow in a familiar environment.
When combined with a comprehensive library of more than 150 expert audit tests, it delivers an accessible platform that is ready to go and capable of getting your audit department up and running quickly.
There’s a difference between audit analytics and data visualization. Audit analytics uncover hidden risks, while data visualization helps to convey those findings. Business intelligence solutions, like Microsoft’s Power BI and Tableau, are analytics and visualization resources that are often adopted as more traditional data analytics solutions.
Having the flexibility to integrate with these tools is incredibly important, but they're not exclusively purpose-built for audit. TeamMate+ provides integrated analytics and the power of third-party data visualization to give you the support you need.
Be an auditor, not a data scientist!