Data Analytics for Internal Audit Data Mining Blog - www.dataminingblog.com

This is a guest post from Marcel Baumgartner, Data Analytics Expert at Nestlé S.A. Large publicly listed companies not only have external auditors who check the books, but often also a large community of internal auditors. These collaborators provide the company with a sufficient level of assurance in terms of adherence to internal and external rules and guidelines. This covers financial aspects (spend, invoices, investments, …), human resources (working time, payroll, …) but also production related aspects (e.g. One of the strongest trends observed in internal auditing communities is the more and more widespread use of Data Analytics. The term refers to the use of data, statistical methods and statistical thinking as a way of working, in addition to traditional auditing methods like interviews, document and process reviews, etc.