About the Service
Data Analytics and IT Audits
Data Analytics
Enhancing Control Environment and Business Intelligence
Data analytics is a powerful tool for deriving meaningful insights from large databases that aid management decision-making, financial reporting, and enhancing the control environment. At Bagaka, we are proficient in the use of data analysis tools such as Caseware IDEA, Microsoft Excel, and data visualization to assist businesses and audit teams in improving their risk management, decision making, audit methodology and sampling techniques.
Risk Management Tool
Data analysis is valuable as a risk management tool to detect areas susceptible to fraud in financial management processes and monitor whether fraud has occurred. We use data analyses to support management in their efforts to build cohesive control environments and assist audit teams in improving coverage to add value to business and financial processes.
Data Integrity and Verification Reviews
We perform data integrity and verification reviews to monitor and evaluate controls and detect deficiencies in the control environments. Our expertise in data analytics enables us to provide meaningful insights that support risk management, compliance, and decision-making.
Data Intergrity and verification reviews include the following examples:
- Completeness and accuracy of payroll data
- Existence of employees – risk of ghost employees
- Accuracy of suppliers and creditors data
- Completeness and Accuracy of membership data (Pension fund industry, the insurance industry, trade unions, professional bodies and associations, etc)
- Verification of data on migration from one system to another
- Inventory management – verification and accuracy of inventory valuation
- Integrity of financial data to enhance the accuracy of financial reporting
- Improve fraud prevention and detection
- Improvement of procurement and contract management processes
IT Audits
At Bagaka, we understand the critical role that information technology (IT) plays in modern business environments. Our IT audit services cover a wide range of areas, including:
- IT governance
- IT risk management
- IT compliance
- Cybersecurity
- IT operations management
- IT project management
Our experienced professionals use a risk-based approach to evaluate the adequacy and effectiveness of IT controls, processes, and systems. We provide insights and recommendations for enhancing IT governance, risk management, and compliance to improve the overall performance and value of IT in the organization.
