Click here to learn more about an exciting new textual analytics concept that works to identify word deviations swiftly by applying letter frequency rates of the English language and prior period letter occurrences as expected benchmarks when analyzing the data set at hand. See the link above to the blog post and research brief available at the International Institute for Analytics.
The AuditNet® survey on Keyword Analytics produced over 500 responses and was an effort completed in 2014 to collect words from audit, fraud, and finance professionals used in their textual analysis. These data files were updated in 2015 to lead to a file of over 4,000 unique words for searching. The data files available associated with the survey are being offered for $79 and include the following:
- Tabulated list of key words from the survey produced over 2,100 key words and additions were made in 2015 to raise this list to over 4,000 unique words/phrases for searching. The key words have various coding, as well as, summaries of the results in numerous Pivot Table perspectives.
- A Dutch translated version of the 2014 survey results (close to 2,000 words translated from the original list of 2,100 words).
- Excel macro that will complete a key word match, summarize counts of each word, as well as, tagging each Excel row with the word detected.
- ACL & Arbutus compatible scripts to complete a key word search, as well as, a word summarization of a selected field (such as journal entry description).
Other consultants and firms have developed their own list of keywords but to our knowledge have not made them available to the public. The AuditNet® Keyword Files not only include the list of keywords but tools and techniques to put these files to work for you.
The top reason why audit departments don’t spend more time with analytics was the cost of training and software. It was 65% of the response in Auditnet®’s 2012 Data Analytic Survey and 57% of Auditnet®’s 2012 State of Technology Use by Auditors, when over 1,500 auditors were surveyed.
They key is to keep the costs down while training your entire department in analytics using a platform everyone understands, Microsoft ExcelTM. For individual courses, the Minutes to Analytics Training Series equates to roughly $20 per CPE credit which is one of the cheapest analytics training in the marketplace. This cost per CPE ratio can be lowered further with a group subscription where your entire team can join the training, obtain additional benefits for your subscription and, more importantly, have a reason to meet and brainstorm bi-weekly on data analytics.
In addition to low cost CPE, never before has such an organized learning plan been developed for extending practical analytics throughout the audit organization. The curriculum comes complete with additional values: audit programs, sample data, and post webcast access to the recorded course. See what others are saying about our recent events:
Amazing, thanks so much for your help with the keywords search. Your filtered many to many join blew my mind. I’ve since watched more of the videos and downloaded the files from the site. I can’t believe you’re charging this little. These are awesome. – Systems Supervisor, Internal Audit Team – Large Construction Firm”
Thank you for the Webinar yesterday and it was one of the most useful training events I have been to this year. I am even putting the learning into action today on a current project. Very helpful!- Associate Director, Internal Audit, Property Management Company.
Class sessions start at $45 per session Individual or $199 Group. Subscriptions start at $349 Individual or $1,799 Group. Discounts if you pay first. Sign Up Now as Classes Start on February 18, 2015 – Click Here To Learn About Pricing.
Make sure to watch the short videos to learn more on how you can speed your learning curve and get analytic in 2015, with a trusty partner, Microsoft ExcelTM. Training is designed to be beneficial and meaningful to all levels of audit team members. Click Here to Learn More
I have developed a macro-enabled Microsoft Excel workbook will search a column in Excel for all desired words/phrases. The macro will first extract all rows of data in the selected worksheet, identify the key words/phrases found in that column, and then accumulate the number of times the key words appear in the selected column. Below is a two-minute video showing how it all works.
To receive the complimentary key word macro worksheet used in the below video, please register at AuditSoftwareVideos.com. Please note in addition to the key word macro file, you will also receive complimentary access to 70 hours of analytic training in ACL Desktop™, IDEA™, Microsoft Excel™, Microsoft Access™, ActiveData for Excel™, and other software products.
For the rest of the story and the video demonstrating the macro click here!
I recently was informed of a video I made a few years back with the IIA at the International Conference 2012 that is now on auditchannel.tv.
I find this trick is better in person to watch the card get pieced back together and I tried to relate fraud detection to the card trick. For a three minute card trick / lesson in four elements of fraud detection, please click here to watch the IIA posted video.