Professional Certificate Course in
Data Science for Internal Auditors Training
- Get Trained by Trainers from ISB, IIT & IIM
- 16 Hours of Intensive Classroom & Online Sessions
- 20 Hours of Free Python Programming Videos
- Job Placement Assistance

2936 Learners
Academic Partners & International Accreditations
"76% of companies in Asia-Pacific and Europe employ data analytics in auditing effort." - (Source). Data Science has become the game-changer for the Internal Audit function. More Internal Audit departments are hiring data scientists to streamline internal audit procedures. This is an area of career growth for Data Scientists. Most companies hire a Data Scientist Internal Auditor. Most analytics software uses Artificial Intelligence algorithms to scan multiple transactions and probably thousands of trial balance entries to provide meaningful results of analyses. This obviates the need for multiple auditors during the internal audit process. This course is helpful for learning specific skills that Auditors can leverage that can help them deliver unparalleled quality and coverage thus maximizing business value.
Internal Auditors Programme Overview
The Data Science for Internal Auditors course is among a unique set of programs that 360DigiTMG is offering in its catalog of Industry-Specific courses. It is handcrafted to suit the needs of internal auditors. Auditors have the critical need to identify areas of fraud in accounting practices, tax filing, etc. According to the Journal of Accountancy, the power of Data Science and Analytics can help auditors improve by enabling them to test on larger (and complete) sets of data vs just test samples, enhanced anomaly detection and provide a comprehensive analysis of the general ledger.The internal audit function can also leverage the power of Data Analytics and Artificial Intelligence to detect and analyze fraudulent transactions in the realm of finance and accounting. In this analytics course for internal auditors, the student journeys through the fraud detection lifecycle and learns various proactive and reactive approaches to handling fraud. The use of Network Analytics and graph data to identify fraud is explored in depth. In this course, internal auditors and accountants are taught Inferential Analytics, Descriptive Analytics, Hypothesis Testing, Regression Techniques, Feature Extraction, Feature Engineering, Feature Selection, Machine Learning, Text Mining, Natural Language Processing, Time Series Analysis, Forecasting, Black box techniques, and Neural Networks.
Who is an Internal Auditor?
An internal auditor is a professional hired by a company to give an objective assessment of the performance of operational and financial activities. They are supposed to regulate corporate governance. They have to ensure that companies comply with tax and labour laws and regulation.
As part of the audit process, they examine financial statements, conduct interviews with employees, supervise work schedules, check inventory to eliminate errors and expose risks. They create risk assessment profiles for each department that they audit.
Data Analytics in Internal Auditor's role
An Internal Auditor can apply Data Analytics approaches to enhance the internal audit of the following areas
a) Sales and Operations
b) Finance and Accounting
c) Order to Cash, Procure to Pay
d) Legal and Regulatory Compliance
e) IT Infrastructure.
Internal audit department can use Data Analytics to
i. Identify Additional risks
ii. Understand existing risks- effective risk profiling
iii. Testing of data via simulation
iv. Keeping watch for fraudulent transactions.
v. Real-Time Exception Management
vi. Provide assurance coverage
viii. Provide reports to management
Internal Auditors Learning Outcomes
This course will teach auditors how to blend Data Analytics and Machine Learning techniques with the internal audit functions of a company. Manual audits are often a nightmare to auditors as the data is stored across multiple files, stores, and systems. Data Analytics simplifies the audit procedure and reduces the load as it allows you to extract data from any source. It also helps the auditor to integrate data from multiple sources. The auditor can publish the results of his analysis faster. Initially, the student is exposed to the Fraud Analytics Lifecycle. Automated Data Analytics makes fraud detection easier as it becomes easy to dig very deep into the data. It also uses less staff time and cost. Manual detection of fraud is a cumbersome process. Network analytics techniques and advanced and futuristic techniques to detect fraud are also studied in this course. The course also mentors students on the various proactive and reactive approaches to handling fraud. Descriptive and Predictive Analytic techniques to identify risk are elaborated. The principal benefit of using Data Analytics tools is that the audit has more time to give meaningful insights to the customers and better analyses as the software takes care of number crunching. The student will also learn to employ Data Visualization techniques to present the results of an internal audit to senior management.
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Who Should Sign Up?
- Internal Auditors
- CFO/Director/Head of Accounting
- Business Analysts
- Data Analysts
- Banking and Accounting Analysts
- Certified Financial Analysts
- Credit Analysts
- Financial Advisors
- Math, Science and Commerce Graduates
Internal Auditors Course Modules
This Data Science course for Internal auditors enables the participant to learn about the accounting domain and the key responsibilities of an internal auditor. The preliminary modules paint a pretty portrait of Data Science and its applicability in the Internal Audit Function. Project Management skills are explored at the very inception of this course. The ABCs of Data Analytics namely, Inferential Analytics, Descriptive Analytics, Feature Engineering, Feature Extraction, and Feature Selection are discussed with students. A separate module on Hypothesis Testing and Regression Techniques is also included. Today increasingly internal auditors are using Machine Learning approaches to identify risk and detect fraud. An entire module is therefore dedicated to Machine Learning. Fraud Detection using Network Analytics and Graph Data is also included. Text Mining, Natural Language Processing and its applications in audits also feature in the curriculum of this course. Today companies are leaning towards Black Box techniques like Neural Networks, SVM to identify fraud in audit processes. All these techniques in addition to Time Series and Forecasting are the central themes of the concluding modules of this course.
Trends in Financial Analytics Course
Auditors have a great responsibility in serving the public interest by performing vigorous audits in this era of uncertainty and one of the toughest economic climates seen in recent memory. While the audit industry has always been cognizant of the critical role data analysis plays, the introduction of Big Data and Data Science can be a true game-changer in this age-old profession. It is being used to dig out insights for valuable improvements in the internal workflow and cultural habits and also to improve the efficiency of the whole process. Leading departments in the field of internal auditing are fusing data, tools, people and processes to derive value from analytics to achieve increased quality and efficiency in the functioning of a business.
According to an Ernst and Young article, big data analytics powered Data Science can enable auditors to better detect fraud and minimize operational business risks. The trends to look out for in IA includes focusing on Privacy compliance due to a massive increase in data privacy regulations and focusing on mitigating cyber risks which continue to increase in frequency and intricacy. Internal audit will also have to assist in third party risk management and formalizing an effective third-party risk management program that will include third-party selection, contract arbitration, business strategy, and vendor termination.
How we prepare you
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Additional Assignments of over 60+ hours
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Live Free Webinars
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Resume and LinkedIn Review Sessions
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Lifetime LMS Access
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24/7 Support
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Job Placements in Internal Auditors Fields
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Complimentary Courses
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Unlimited Mock Interview and Quiz Session
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Hands-on Experience in Live Projects
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Offline Hiring Events
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