Gather and Summarize Data Gather and Summarize Data 1 - - PowerPoint PPT Presentation

Gather and Summarize Data Gather and Summarize Data

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Introductions

Introductions Audience Poll Course Agenda Participant Expectations

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Gather and Summarize Data Objectives

Upon completion of this presentation, you should be p p p y better able to: Describe the challenges to effective fact finding Identify the advantages/disadvantages of using different Identify the advantages/disadvantages of using different data gathering methods Explain the dimensions of an interview, apply effective questioning, and learn active listening techniques Use specific methods and techniques to summarize data data

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Activity: Who Am I?

Purpose: To practice gathering data by asking questions. Step Timing

1) Every table will have a designated celebrity. The celebrity cannot look at their name tag. 5 min 2) The designated celebrity must identify who they are by asking one question to each member at their by asking one question to each member at their table.

• You can only ask each table member one question.
• After asking a question to each table member, the

designated celebrity must make a guess of who they are.

• The designated celebrity may guess at any point

after asking questions.

10 min

after asking questions.

• Table members should not reveal the celebrity until

the correct answer is guessed or each member as answered their question.

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3) Debrief 5 min Total 20 min

Process for Data Gathering and Summary

1) Determine the purpose of the audit 2) Know your contacts – who they are, organizational structure,

what they do

3) R

i t th d t ll ti l ( l d t

3) Review or create the data collection plan (goals, data sources,

method of collection, data collection, formats, responsibilities)

4) Prepare questions for interview 5) Interview the client 6) Summarize data in work papers

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Primary Objectives of Fact Finding

Identify sources of y information/data Gather Data

Gather Data Identify Source Identify Source Gather Data

Determine Missing information Summarize Data

Determine Missing Summarize Data Information Data

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Gathering Data

Helps us: p Identify strengths and weakness in business processes and controls Assess effectiveness of processes and controls Assess effectiveness of processes and controls Support our findings

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Challenges to Effective Fact Finding

Assumptions Short Cuts Habit/ Experience Fears History Ch Perceptions Poor Data Change

• ata

Collection

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Activity: Challenges to Effective Fact Finding

Purpose: To identify solutions to common fact finding challenges. Step Timing 1) Every table will be assigned a challenge from the previous slide. 5 min 2) As a group, discuss a scenario where you 2) As a group, discuss a scenario where you encountered the challenge and how you addressed the situation. 5 min 3) A l t l d h 3) As a group, select one example and have a designated speaker share it with the room. 10 min Total 20 min

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Data Gathering Methods

Method Advantage Disadvantage

Observation  Views wide range of behavior  Can alter behavior Observation Information Collection g  People in their natural setting  Difficult to observe detail  Allows detailed analysis  Accesses historical data  Seldom deals with solutions Surveys and questionnaires  Lacks spontaneity  Up to date  Focuses responses  Encourages criticism  Lower response rate Workshop / Focus groups  Difficult to design effectively  Highly interactive  Provides a range of views  Requires skilled facilitation Focus groups Interview  Provides a range of views  Can test hypothesis facilitation  Participants may feel inhibited  Obtain detailed information  Requires planning

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 Confidential  Interactive

Interview Dimensions

Content

Objecti e and p rpose Objective and purpose

Relationship Process

B h i i t ti d b fit

Procedure

Method time place and agenda

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Behavior, interaction, and benefit Method, time, place, and agenda

Benefits of Interviewing

Learn facts, opinions, and feeling , p , g Identify problems, causes, and politics Learn about culture resistance and sensitivities Learn about culture, resistance, and sensitivities Develop relationships

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Interview Preparation

Become familiar with the company/department and p y p interviewee Identify the purpose of the meeting and participant roles Outline questions that will help focus on each topic Establish time limits for each topic – and stick to them!

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Interview Pitfalls

Pitfall How To Avoid Pitfall How To Avoid  Interviewing the wrong people at the wrong time  Be aware of the appropriate contacts and their schedules their schedules  Asking the wrong questions and getting the wrong answers  Upfront preparation and planning answers  Creating bad feelings between ti  Be courteous parties  Understand your contacts and their situation

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Interviewing vs. Facilitating

Facilitators and interviewers both: Help the group focus its energies on a task Manage meeting timing and agenda items Manage meeting timing and agenda items Ensure everyone has the opportunity to participate Stay neutral Stay neutral

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Questions to Avoid

Question Type Example Question Type Example Closed questions Closed questions “Do you…?” “Do you…?” “Is it…?” “Is it…?” Telegraphed questions Telegraphed questions “How do you feel about funding “How do you feel about funding for children’s education?” for children’s education?” Leading questions Leading questions “Wouldn’t you agree that your “Wouldn’t you agree that your sales system is terribly sales system is terribly disorganized?” disorganized?”

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Effective Questioning

Question Type Example Question Type Example Open questions Open questions How, why, what… How, why, what… Expansion questions Expansion questions “Please tell me your thoughts “Please tell me your thoughts ”

• n…”
• n…”

“Can you expand further on…” “Can you expand further on…” Clarifying questions Clarifying questions “Can you give me an example “Can you give me an example y g q y g q y g p y g p

• f…”
• f…”

“Could you be more specific…” “Could you be more specific…”

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The Interview

Come Prepared p Know your audience Good first impression (Relationship Building) Good first impression (Relationship Building) Opening icebreaker Review interview purpose outcomes topics and timing Review interview purpose, outcomes, topics and timing Ask prepared questions Listen actively Listen actively Take notes to identify key points

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Active Listening

A three step process: p p Body language Advance the conversation Advance the conversation Paraphrase

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Handling Difficult Situations

Interruptions p Challenging statistics or facts Rambling or “soapbox” Rambling or soapbox Side conversation Inattentive interviewee Inattentive interviewee

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Activity: Handling Difficult Situations

Purpose: To share experiences of difficult interviewing situations and how they were handled. Step Timing Step Timing 1) As a group, discuss a scenario where you encountered a difficult situation during an i t i d h h dl d it interview and how you handled it. 5 min 2) As a group, select one example and have a designated speaker share it with the room 10 min designated speaker share it with the room. Total 15 min

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Methods For Gathering Audit Evidence

Inquiry q y Confirmation Observation Recalculating Reconciliation Inspecting Inspecting Analytical Procedures Detail Testing g System Query

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Gathering Supporting Documentation

Steps to help ensure all required data is requested: p p q q Upfront planning Clear and concise Document Request List (DRL) Discussion during interview Follow-up communication with action items

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Primary Objectives of Fact Finding

Identify sources of y information/data Gather Data

Gather Data Identify Source

Determine Missing information Summarize Data

Determine Missing Summarize Data Information Data

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Determine Missing Information

To determine whether important information or facts p are missing: Ensure the data gathered aligns with the audit objective Verify the completeness & accuracy of data Ensure that all questions can be answered q Review information gathered with the contact to make sure you have a thorough understanding Are there any issues?

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Primary Objectives of Fact Finding

Identify sources of y information/data Gather Data

Gather Data Identify Source

Determine Missing information Summarize Data

Determine Missing Summarize Data Information Data

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Documenting Procedures Performed

Know your deliverable and audience y Adequately describe procedures Summarize results Summarize results Use simple words (De-IT) Eliminate non value add words (‘fluff’) Eliminate non-value-add words ( fluff )

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Gather and Summarize Data Summary

You should now be better able to: Describe the challenges to effective fact finding Identify the advantages/disadvantages of using different Identify the advantages/disadvantages of using different data gathering methods Explain the dimensions of an interview, apply effective p pp y questioning, and active listening techniques Use specific methods and techniques to summarize data

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Questions or Comments?

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