Presentation Pieter de Kok, MeetTheData, about the future of audit.

1. Meet The Data
19 juni 2014
AccountancyExpo
Drs Pieter de Kok RA

2. HOW FAR AWAY IS THAT DOT AT THE HORIZON?

5. “Future of Flying”

6. To the moon and London to Sydney in just two hours

7. FUTURE OF HIGHWAYS
By Daan Roosegaarde

9. OUR AUDIT
WORLD TODAY

10. Limited ‘BI’ & data awareness in
audit & reporting domain
Limited standardisation, low
efficiency in adopting new analytics
technology
IT tools are all over the place, no
integrated approach
A lot of talking…
Low added value perceived by
clients, low fun factor experienced
by teams
Current General
landscape
Assurance services

11. DISCLAIMER

13. Key Objectives of
CONEY today
Provide for Smart & Easy analytics
Innovate our assurance proposition
Operating an Analytics platform
Connectivity to the max
“Automate routine activities”
Get closer to our clients
Identify new service opportunitiesData-
Analytics
Process
Mining

14. TODAY
Data-Analytics Basis
Deliverables
Business Trends & Developments reporting
Workflows audits through process mining
Online dashboards for presentations
Audit Alerts & Exceptions
Periodic ‘Automated’ audit procedures
Starreveld based auditing – ad hoc

15. Purchasing
Hours
x
Freelance
Rate
Sales
Hours
x
Sales
Rate
Cash
Receipt
Cash
Disbursment
TEMP
services
Cash
Payables
Receivables
Close
To
Real
Time
Audit Approach Today

16. PROCESS MINING
TODAY
TODAY
PROCESS MINING

17. TODAY Basis
Deliverables
Connect with digital files
Exception management
Connectivity
Connect to different source systems
XBRL/SBR/Audit files
Open source systems

18. Bron:
Nellissen en
Belt, MAB,
juni, 2014

19. NEXT 3 TO 5
YEARS

20. THE EYE OF AUDIT DISRUPTION

21. NEXT 3 to 5
YEARS
Use open data, build smart, big data solutions
for clients
Share new business insights to your clients
Extend insights to wider group of stakeholders
by opening platform
Provide your clients access to an Analytical
Platform
Monitor Business Performance
Increase of
Advanced
Business Analytics
in Audit
Further integrate statistical analytics

22. Invest in global research to develop true
automated audits
INVEST
NEXT 3 to
5 YEARS

23. We need to build Audit Data Standards….
Around
NEXT 3 to
5 YEARS

24. Build New Audit Data Standards
(powered by the WHO?)
Create a COMMON DATA STORE
and it is about the question ‘WHAT
DATA DO WE NEED PER KEY
PROCESS’
NEXT 3 to
5 YEARS

25. We will see more Advanced Analytics
TRADECOMPANY3.0
NEXT 3
TO 5
YEARS

26. Enterprise
Data (xyz)
Enterprise
Data (xyz)
INPUT
Business
Risks
Controls
Analytics
OUTPUT
Data Extraction VisualisationData-Scripts & Events Logs
Tableau
ACL Based
Online Data-
Analytics
ALLINCLoudAUDITS
Datafactory NEXT 3-5 YEARS

27. NEXT 3 to 5 YEARS
MORE STEPS TOWARDS
INTEGRATION PROCESS
MINING AND DATA-
ANALYTICS
Controls Performance
Business Improvements
Process Redesign
Risk management

28. NEXT 3 to 5
YEARS
True Revival of
Dutch Audit
Methodology
Starreveld

29. NEXT 3 -5 YEARS

30. NEXT 3 -5 YEARS

31. And integration of predictive analytics in audits..
TRADECOMPANY3.0
NEXT 3
TO 5
YEARS

32. Examples predictive analytics in audit
TRADECOMPANY3.0
Company 1
Company 2Company 3
PREDICTING
CASHFLOW
MOVEMENTS
PERFORMING
STRESS
TESTING

33. Online
Audit Files
with a lot
of APPS
NEXT 3 to 5 YEARS

34. LOOKING AHEAD
BEYOND 5 YEARS

35. BEYOND 5 YEARS
PROCESS
MODEL
FACTORY
RETAIL
PRODUCTION
PROFESSIONAL SERVICE COMPANIES
ETC
Procurement Sales
Cash
Payments
Cash
Receipt
Top Cycle Approach Examples:

36. PROCESSFACTORY
PROCESS MINING FUTURE
1. Global Upload SOLL Best Practice Process Models
(based on Starreveld) by students, auditors and
business
2. Global Download SOLL Best Practise Process Models
3. Automated SOLL and IST Process Mining comparisons
4. Best Practice Sharing through the Process Factory
resulting in rating Best Soll Models.

37. BEYOND 5 YEARS
SIMULATION
CONTROL
FRAMEWORK
PROCESS MINING
IMPROVE CONTROLS
IMPROVE EFFICIENCY
MANAGE RISK
REDUCE COMPLIANCE COST
Procurement Sales
Cash
Payments
Cash
Receipt
WHY SIMULATION

38. BEYOND 5 YEARS
ASSURANCE
ON DEMAND
(XBRL Driven)
Same Data, different presentation
formats
Same Data, different Assurance
levels
Focussing on specific interests, by
specific stakeholders
Beneficial for small & mediumsized
companies
Assurance On Demand:

39. BEYOND 5 YEARS CONTINUOUS
STORY TELLING
Socially Focused
Using New Media
Extended Audience
Advanced Visualisation
Continuous Storytelling

40. BEYOND 5 YEARS
We will see
Channel
Assurance
FRANCHISE

41. INSURER
BROKER
VALUATOR
policy
premium
damage
report
request
report
policy w/o premium
premium w/o policy
EXCEPTIONS
Algorithms Monitoring the Channel of Companies
ACROSS THE CHANNEL ASSURANCE

42. BEYOND
5 YEARS
How will
Internet of
Things impact
Process mining?

43. BEYOND 5 YEARS Gamification &
Audit Education

44. At the end…we will see:
Integration Data-Analytics & Process Mining
new tools
3.0
BEYOND 5 YEARS

45. WE NEED A AUDIT
LAB
RIGHT NOW!

47. Questions!?