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Let the data do the work! !

Data Analytics . Let the data do the work! !. David W. Crotts – Senior Auditor Sharon M. Kurek – Director. Data Analytics . Objectives of Data Analytics How Virginia Tech uses it What other universities do?. Why Data Analytics?.

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Let the data do the work! !

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  1. Data Analytics Let the data do the work!! David W. Crotts – Senior Auditor Sharon M. Kurek – Director

  2. Data Analytics • Objectives of Data Analytics • How Virginia Tech uses it • What other universities do?

  3. Why Data Analytics? • Provides a uniform method of analyzing statistics related to routine tests of large data set • Reduces large data sets into more meaningful data sets for targeted sample selection.

  4. Compliance Reviews • Tests of controls related to university wide policies and procedures (e.g., payroll, purchase cards, funds handling) • Formerly completed during risk-based audits; became separate audit type in 2004 • Completed at the Dean or Vice President level on a five year cycle • Random sampling on data sets of up to 10,000 records

  5. Various Populations

  6. Data Sets • Access to data • System generated reports • Customized queries • Full system database dumps • Validate your data

  7. Fixed Assets • Summarize data by organization code • Stewardship tests • Current custodian assigned • Missing/stolen assets • Assets assigned as “Home Use” • Assets not inventoried in two years.

  8. Purchase Cards • Summarize data by organization code and by cardholder • No. Cardholders or Last Purchase Date • Purchases (No. and $$) • Credits (No. and $$) • Total charges • Avg. charge • Identify purchases made over the weekend • Identify possible split transaction

  9. Leave Reporting • 100% testing on timely electronic leave report submissions • Summary data by employee on number of leave hours taken

  10. Risk Based Auditing • Identifying exposures to business risks and controls designed by management to reduce those risks. • Various areas audited: • Academic Units • Research Institutes and Centers • Central Oversight Units • OSP • Controller’s Office • Student Financial Aid

  11. Effort Reporting • Query identifies late submission of Personal Activity Reports (PARs) • Office of Sponsored Programs enters PARs certification date into Banner • Determine the difference between the PAR Submission date and due date per policy

  12. 100% Effort Reporting • Query identifies faculty reporting 100% effort on federal research projects who are also teaching. • PARs that report 100% federal effort • Compared to Class Schedule

  13. Project Close Out • Query identifies funds open six months past termination date • Project End Date – The date a project ends according to the grant. • Fund Termination Date – The date the fund associated with the grant can no longer have any charges or journal entries posted to it.

  14. Other Queries • Indirect Cost Rates – differences from approved rates • Departmental Timekeeping – changes made by appropriate supervisor • Efficiency Rates • Financial Aid Payments made to USFA employees

  15. Questions? Ideas for other queries? What is your audit shop doing?

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