Workshop: Using data analysis to flag transactions of interest

February 10, 2022

Arbutus Analyzer showing transactions with "risk scores" or "focus indicators". Cells with scores above certain values are highlighted with a colour (based on "triggers").
Arbutus Analyzer - Transactions with scores

In this workshop, we flag transactions of interest in a large data set using data analysis.
Join us for the live, in-person workshop organised by Belgian chapter of the IIA.

What is the workshop about?

Need to audit millions of transactions and don’t know which ones to focus on?

Taking a simple statistical sample is of course one way of selecting a limited set of transactions. However, in this workshop, we take a more risk-based approach and focus on “transactions of interest”.

Arbutus Analyzer showing transactions with "risk scores" or "focus indicators". Cells with scores above certain values are highlighted with a colour (based on "triggers").

Using a specialised data analysis tool (Arbutus Analyzer), we test each transaction for various indicators (such as round amounts, transactions on weekend days or public holidays, outside normal operating hours, exact or near, duplicates, vendor dependency, etc.) resulting in “red flags” or as we like to call them “Focus indicators“.

Optionally, we give each indicator a specific weight as not all are equally important.

Finally, we use a scoring mechanism to come to a reduced set of transactions to investigate further.

As a bonus, we illustrate how the return on investment can be increased by scheduling this test to automatically run each quarter and send email alerts when it identifies new transactions of interest; in effect turning the audit effort into an effective continuous monitoring system.

Why attend?

Those that need to analyse large data sets such as invoices, orders, expenses, refunds, tax data, etc. will surely find this workshop interesting indeed. Equally, auditors who are interested in data analytics in general, or who are exploring the landscape for ideas and tools will find value in the presentation and approach.

In addition, after the workshop we can arrange for you to have access to the same data analysis software with a temporary license.

Bread sandwich nicely garnished

Oh, and did we mention?

A sandwich lunch is included, so indeed there is such a thing as a free lunch!

Also 1 CPE credit will be awarded for attending this workshop.

Practical details


Thursday 24th of March 2022, 12:00 to 13:30


The workshop will be held at the offices of IIA Belgium (Rue Royale 109-111, 1000 Bruxelles).

What does it cost?

This is a free workshop.

There is no charge; so you only invest your lunchtime.

Still, you must register beforehand!

Who is the speaker?

The host will be Alain Rousseau; the driving force behind Sepia Solutions. He has focussed on audit software tools since 2007 and implemented data analysis tools (Arbutus Analyzer, ACL) and audit management tools (PAWS, Pentana Audit) at dozens of audit departments.

With an education and background that is both technical (industrial engineer) and business (MBA), Alain is the ideal interface between business users and software developers. His in-depth understanding of the software packages and a firm understanding of the audit profession also makes him an excellent trainer and consultant for these software packages.

As part of the IIA’s Master Class Internal Audit Essentials, he recently wrote a paper discussing the effect of audit software on meeting the IIA’s IPPF standards.

Missed this workshop?

Did you miss this workshop: Using data analysis to flag transactions of interest? Not to worry, we will host it again, and probably online. Feel free to register your interest via the form below, or ask for more information using that form.

We can illustrate it so much better!

Sepia Solutions specialises in this software. This website documents just the tip of the iceberg in terms of the software’s features and capabilities. Contact us for a presentation so that we can demonstrate the Arbutus software and illustrate it more interactively. We can then also discuss your data, objectives and current hurdles. After all, the real story is in the data we just need to analyse it.
No costs, no obligations, only additional insights.

    Fill out this form to request additional information or a demonstration.