（2006）Data Reliability and Quality Assurance.pdfVIP

Data Reliability and Quality Assurance Biennial Forum of Government Auditors San Jose, CA May 2006 Presented by: Nancy Glynn Audit Director OBJECTIVES OBJECTIVES • Define Data Reliability • Current Standards • Proposed Standards • Key Factors to consider in data reliability • Documentation Auditor of Public Accounts DATA RELIABILITY DATA RELIABILITY An auditor’s job is to complete complex audits on or under budget while complying with professional standards including: – SAS No. 94, The Effect of Information Technology on the Auditors Consideration of Internal Control in a Financial Statement Audit – SAS No. 99, Consideration of Fraud in a Financial Statement Audit Auditor of Public Accounts DATA RELIABILITY DATA RELIABILITY • eCommerce and other initiatives have changed many traditional business practices • Many economic events are captured, measured, recognized, and reported electronically without any paper-based trail • Data is stored in many different methods and in a variety of different forms • The convergence of electronic processes toward real- time financial management is displacing traditional audit methods with ‘smart’ electronic analytics and continuous auditing techniques • Auditors are facing increased pressure for efficiency and demands to increase value Auditor of Public Accounts DATA RELIABILITY DATA RELIABILITY • Data reliability refers to the accuracy, consistency and completeness of computer-processed data, given the intended purposes for use. Data is reliable when it is