Gather and Summarize Data Gather and Summarize Data 1
Introductions Introductions Audience Poll Course Agenda Participant Expectations 2
Gather and Summarize Data Objectives Upon completion of this presentation, you should be p p p y better able to: Describe the challenges to effective fact finding Identify the advantages/disadvantages of using different Identify the advantages/disadvantages of using different data gathering methods Explain the dimensions of an interview, apply effective questioning, and learn active listening techniques Use specific methods and techniques to summarize data data 3
Activity: Who Am I? Purpose: To practice gathering data by asking questions. Step Timing 1) Every table will have a designated celebrity. The 5 min celebrity cannot look at their name tag. 2) The designated celebrity must identify who they are by asking one question to each member at their by asking one question to each member at their table. • You can only ask each table member one question. • After asking a question to each table member, the designated celebrity must make a guess of who 10 min they are. • The designated celebrity may guess at any point after asking questions. after asking questions. • Table members should not reveal the celebrity until the correct answer is guessed or each member as answered their question. 3) Debrief 5 min Total 20 min 4
Process for Data Gathering and Summary 1) Determine the purpose of the audit 2) Know your contacts – who they are, organizational structure, what they do 3) Review or create the data collection plan (goals, data sources, 3) R i t th d t ll ti l ( l d t method of collection, data collection, formats, responsibilities) 4) Prepare questions for interview 5) Interview the client 6) Summarize data in work papers 5
Primary Objectives of Fact Finding Identify sources of y information/data Identify Gather Identify Gather Source Data Source Data Gather Data Determine Missing information Summarize Data Determine Summarize Missing Data Data Information 6
Gathering Data Helps us: p Identify strengths and weakness in business processes and controls Assess effectiveness of processes and controls Assess effectiveness of processes and controls Support our findings 7
Challenges to Effective Fact Finding Assumptions Short Cuts Habit/ Fears Experience History Perceptions Poor Data oo ata Ch Change Collection 8
Activity: Challenges to Effective Fact Finding Purpose: To identify solutions to common fact finding challenges. Step Timing 1) Every table will be assigned a challenge from 5 min the previous slide. 2) As a group, discuss a scenario where you 2) As a group, discuss a scenario where you encountered the challenge and how you addressed the situation. 5 min 3) A 3) As a group, select one example and have a l t l d h 10 min designated speaker share it with the room. Total 20 min 9
Data Gathering Methods Method Advantage Disadvantage Views wide range of behavior Can alter behavior g Observation Observation People in their natural setting Difficult to observe detail Information Allows detailed analysis Seldom deals with Collection Accesses historical data solutions Lacks spontaneity Surveys and Up to date Encourages criticism questionnaires Focuses responses Lower response rate Difficult to design effectively Highly interactive Requires skilled Workshop / Focus groups Focus groups Provides a range of views Provides a range of views facilitation facilitation Participants may feel Can test hypothesis inhibited Obtain detailed information Requires planning Interview Confidential Interactive 10
Interview Dimensions Content Objecti e and p rpose Objective and purpose Procedure Relationship Process Method time place and agenda Method, time, place, and agenda B h Behavior, interaction, and benefit i i t ti d b fit 11
Benefits of Interviewing Learn facts, opinions, and feeling , p , g Identify problems, causes, and politics Learn about culture resistance and sensitivities Learn about culture, resistance, and sensitivities Develop relationships 12
Interview Preparation Become familiar with the company/department and p y p interviewee Identify the purpose of the meeting and participant roles Outline questions that will help focus on each topic Establish time limits for each topic – and stick to them! 13
Interview Pitfalls Pitfall Pitfall How To Avoid How To Avoid Interviewing the wrong people Be aware of the at the wrong time appropriate contacts and their schedules their schedules Asking the wrong questions Upfront preparation and and getting the wrong planning answers answers Creating bad feelings between Be courteous Understand your contacts parties ti and their situation 14
Interviewing vs. Facilitating Facilitators and interviewers both: Help the group focus its energies on a task Manage meeting timing and agenda items Manage meeting timing and agenda items Ensure everyone has the opportunity to participate Stay neutral Stay neutral 15
Questions to Avoid Question Type Question Type Example Example Closed questions Closed questions “Do you…?” “Do you…?” “Is it…?” “Is it…?” Telegraphed questions Telegraphed questions “How do you feel about funding “How do you feel about funding for children’s education?” for children’s education?” Leading questions Leading questions “Wouldn’t you agree that your “Wouldn’t you agree that your sales system is terribly sales system is terribly disorganized?” disorganized?” 16
Effective Questioning Question Type Question Type Example Example Open questions Open questions How, why, what… How, why, what… Expansion questions Expansion questions “Please tell me your thoughts “Please tell me your thoughts on…” on…” ” “Can you expand further on…” “Can you expand further on…” Clarifying questions Clarifying questions y y g q g q “Can you give me an example “Can you give me an example y y g g p p of…” of…” “Could you be more specific…” “Could you be more specific…” 17
The Interview Come Prepared p Know your audience Good first impression (Relationship Building) Good first impression (Relationship Building) Opening icebreaker Review interview purpose outcomes topics and timing Review interview purpose, outcomes, topics and timing Ask prepared questions Listen actively Listen actively Take notes to identify key points 18
Active Listening A three step process: p p Body language Advance the conversation Advance the conversation Paraphrase 19
Handling Difficult Situations Interruptions p Challenging statistics or facts Rambling or “soapbox” Rambling or soapbox Side conversation Inattentive interviewee Inattentive interviewee 20
Activity: Handling Difficult Situations Purpose: To share experiences of difficult interviewing situations and how they were handled. Step Step Timing Timing 1) As a group, discuss a scenario where you encountered a difficult situation during an interview and how you handled it. i t i d h h dl d it 5 min 2) As a group, select one example and have a 10 min designated speaker share it with the room designated speaker share it with the room. Total 15 min 21
Methods For Gathering Audit Evidence Inquiry q y Confirmation Observation Recalculating Reconciliation Inspecting Inspecting Analytical Procedures Detail Testing g System Query 22
Gathering Supporting Documentation Steps to help ensure all required data is requested: p p q q Upfront planning Clear and concise Document Request List (DRL) Discussion during interview Follow-up communication with action items 23
Primary Objectives of Fact Finding Identify sources of y information/data Gather Identify Source Data Gather Data Determine Missing information Summarize Data Determine Summarize Missing Data Data Information 24
Determine Missing Information To determine whether important information or facts p are missing: Ensure the data gathered aligns with the audit objective Verify the completeness & accuracy of data Ensure that all questions can be answered q Review information gathered with the contact to make sure you have a thorough understanding Are there any issues? 25
Primary Objectives of Fact Finding Identify sources of y information/data Gather Identify Source Data Gather Data Determine Missing information Summarize Data Determine Summarize Missing Data Data Information 26
Documenting Procedures Performed Know your deliverable and audience y Adequately describe procedures Summarize results Summarize results Use simple words (De-IT) Eliminate non value add words (‘fluff’) Eliminate non-value-add words ( fluff ) 27
Gather and Summarize Data Summary You should now be better able to: Describe the challenges to effective fact finding Identify the advantages/disadvantages of using different Identify the advantages/disadvantages of using different data gathering methods Explain the dimensions of an interview, apply effective p pp y questioning, and active listening techniques Use specific methods and techniques to summarize data 28
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