Professional Practices and Data Analysis Division
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Data Analysis section
The Data Analysis (DA) section assists in the identification, acquisition, preparation, and analysis of data from CRA's data stores (e.g., Agency Data Warehouse, Data Marts, Mainframe, Corporate Administration System, Revenue Ledger, and local systems). The DA section generates data analytics reports and assists in identifying new data requirements in support of internal audits, program evaluations, and risk assessments.
The data analytics produced by the DA section helps to study key risk and fraud indicators, to identify errors or misuse, to improve business efficiencies, to verify process effectiveness, and to influence business decisions. Data analytics is typically used as evidence in support of findings and conclusions during the execution of engagements and other value-added consulting and continuous auditing activities.
The DA section helps to ensure compliance with the Institute of Internal Auditors (IIA) Standards (1210.A3), which states: "Internal auditors must have sufficient knowledge of key information technology risks and controls and available technology-based audit techniques to perform their assigned work".
According to the recent book, Data Analytics (Institute of Internal Auditors Research Foundation, 2016), there are four broad categories of data analytics: descriptive, diagnostic, predictive, and prescriptive. The DA section currently produces the first two types of data analytics. Descriptive analytics involves reporting on past events to characterize and summarize what has happened through the use of statistics, trends and patterns, classification, and stratification. Diagnostic analytics provides insight into why certain trends or specific incidents may have occurred through the use of metrics, attributes, and duplication/gap analysis.
Through the power of data analytics, the DA section continues to help management with oversight, insight, and foresight.
Professional Practices
The Professional Practices Section actively supports audit/evaluation/advisory practitioners with methodology, tools and guidance to perform their work to the high standards of competence and value-added espoused by the Branch.