Today, the power of data analytics is profoundly altering the business landscape. Companies are capturing data-related opportunities to improve revenues, boost productivity and reduce risk. This can place new demands on companies requiring not only new talent and investments in information infrastructure but also significant changes in mind-sets and frontline training.
Continuous Controls Monitoring (CCM)
CCM is the use of automated tools and various technologies to ensure the continuous monitoring of financial transactions. CCM creates mechanisms that detect process aberrations (mistakes, fraud, compliance or procedural failures) impacting quality and profitability in near real-time, so they can be proactively corrected before it is too late.
Rausch Advisory Services implements CCM solutions on behalf of our clients to drive improved quality in key processes impacting profitability. This is done by leveraging a company’s existing infrastructure as much as possible, and typically, does not require the purchase of any new software. Please see the Emory video below where Rausch implemented a CCM platform in the matter of a few weeks following our PIVOT methodology leading to a seven figure ROI for the client.
Data Analytics Training
Rausch’s “Introduction to SQL for Internal Auditors or Introduction to ACL for Internal Auditors” courses are focused on training your Internal Audit department within the Microsoft SQL Server relational database management system or Galvanize’s ACL data analytics platform. These courses introduce the use of data analytics and the concepts of continuous controls monitoring. This is an interactive, hands-on training course, where participants will learn various skills and concepts that can be leveraged to detect transaction failures and mistakes, fraud attempts, compliance issues, and the automation of controls testing. This course utilizes your data, allowing you to satisfy training objectives, and complete analytic objectives applicable to your audit plan during the training. Retain and train stronger auditors and make an impact in your organization immediately.