Gather and Summarize DataGather and Summarize Data

1

Introductions

IntroductionsAudience Poll Course AgendaParticipant Expectations

2

Gather and Summarize Data Objectives

Upon completion of this presentation, you should be p p p ybetter able to:

Describe the challenges to effective fact findingIdentify the advantages/disadvantages of using differentIdentify the advantages/disadvantages of using different data gathering methodsExplain the dimensions of an interview, apply effective questioning, and learn active listening techniquesUse specific methods and techniques to summarize datadata

3

Activity: Who Am I?Purpose: To practice gathering data by asking questions.Step Timing1) Every table will have a designated celebrity. The

celebrity cannot look at their name tag. 5 min

2) The designated celebrity must identify who they are by asking one question to each member at theirby 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 they are.

• The designated celebrity may guess at any point after asking questions.

10 min

after asking questions. • Table members should not reveal the celebrity until the correct answer is guessed or each member as answered their question.

4

3) Debrief 5 min

Total 20 min

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) R i t th d t ll ti l ( l d t3) Review or create the data collection plan (goals, data sources, 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 yinformation/dataGather Data

Gather Data

Identify SourceIdentify Source

Gather Data

Determine Missing information Summarize Data

DetermineMissingSummarize

Data InformationData

6

Gathering Data

Helps us:pIdentify strengths and weakness in business processes and controlsAssess effectiveness of processes and controlsAssess effectiveness of processes and controlsSupport our findings

7

Challenges to Effective Fact Finding

Assumptions Short Cuts

Habit/Experience Fears

History

Ch

Perceptions

Poor Data Change oo ataCollection

8

Activity: Challenges to Effective Fact FindingPurpose: To identify solutions to common fact finding challenges.Step Timing1) Every table will be assigned a challenge from

the previous slide. 5 min

2) As a group, discuss a scenario where you2) As a group, discuss a scenario where you encountered the challenge and how you addressed the situation.

5 min

3) A l t l d h3) As a group, select one example and have a designated speaker share it with the room. 10 min

Total 20 min

9

Data Gathering Methods

Method Advantage DisadvantageObservation Views wide range of behavior Can alter behaviorObservation

InformationCollection

g People in their natural setting Difficult to observe detail

Allows detailed analysis Accesses historical data

Seldom deals with solutions

Surveys and questionnaires

Lacks spontaneity

Up to date Focuses responses

Encourages criticism Lower response rate

Workshop / Focus groups

Difficult to design effectively

Highly interactive Provides a range of views

Requires skilled facilitationFocus groups

Interview

Provides a range of views Can test hypothesis

facilitation Participants may feel

inhibited

Obtain detailed information Requires planning

10

Confidential Interactive

Interview Dimensions

ContentObjecti e and p rposeObjective and purpose

Relationship ProcessB h i i t ti d b fit

ProcedureMethod time place and agenda

11

Behavior, interaction, and benefitMethod, time, place, and agenda

Benefits of Interviewing

Learn facts, opinions, and feeling, p , gIdentify problems, causes, and politicsLearn about culture resistance and sensitivitiesLearn about culture, resistance, and sensitivitiesDevelop relationships

12

Interview Preparation

Become familiar with the company/department and p y pintervieweeIdentify the purpose of the meeting and participant rolesOutline questions that will help focus on each topicEstablish time limits for each topic – and stick to them!

13

Interview Pitfalls

Pitfall How To AvoidPitfall How To Avoid

Interviewing the wrong people at the wrong time

Be aware of the appropriate contacts and their schedulestheir schedules

Asking the wrong questions and getting the wrong answers

Upfront preparation and planning

answers

Creating bad feelings between ti

Be courteous parties Understand your contacts

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 itemsManage meeting timing and agenda items

Ensure everyone has the opportunity to participate

Stay neutralStay neutral

15

Questions to Avoid

Question Type ExampleQuestion Type ExampleClosed questionsClosed questions “Do you…?”“Do you…?”

“Is it…?”“Is it…?”Telegraphed questionsTelegraphed questions “How do you feel about funding “How do you feel about funding

for children’s education?”for children’s education?”

Leading questionsLeading 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 ExampleQuestion Type ExampleOpen questionsOpen questions How, why, what…How, why, what…Expansion questionsExpansion questions “Please tell me your thoughts “Please tell me your thoughts

””on…”on…”“Can you expand further on…”“Can you expand further on…”

Clarifying questionsClarifying questions “Can you give me an example “Can you give me an example y g qy g q y g py g pof…”of…”“Could you be more specific…”“Could you be more specific…”

17

The Interview

Come Prepared pKnow your audienceGood first impression (Relationship Building)Good first impression (Relationship Building)Opening icebreaker Review interview purpose outcomes topics and timingReview interview purpose, outcomes, topics and timingAsk prepared questionsListen activelyListen activelyTake notes to identify key points

18

Active Listening

A three step process:p pBody language

Advance the conversationAdvance the conversation

Paraphrase

19

Handling Difficult Situations

Interruptions pChallenging statistics or factsRambling or “soapbox”Rambling or soapboxSide conversationInattentive intervieweeInattentive interviewee

20

Activity: Handling Difficult SituationsPurpose: To share experiences of difficult interviewing situations and how they were handled. Step TimingStep Timing

1) As a group, discuss a scenario where you encountered a difficult situation during an i t i d h h dl d itinterview and how you handled it.

5 min

2) As a group, select one example and have a designated speaker share it with the room 10 mindesignated speaker share it with the room.

Total 15 min

21

Methods For Gathering Audit Evidence

Inquiry q yConfirmation Observation Recalculating Reconciliation InspectingInspecting Analytical Procedures Detail Testing gSystem Query

22

Gathering Supporting Documentation

Steps to help ensure all required data is requested:p p q qUpfront 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 yinformation/dataGather Data

Gather DataIdentify Source

Determine Missing information Summarize Data

DetermineMissingSummarize

Data InformationData

24

Determine Missing Information

To determine whether important information or facts pare missing:

Ensure the data gathered aligns with the audit objective

Verify the completeness & accuracy of data

Ensure that all questions can be answeredq

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 yinformation/dataGather Data

Gather DataIdentify Source

Determine Missing information Summarize Data

DetermineMissingSummarize

Data InformationData

26

Documenting Procedures Performed

Know your deliverable and audience yAdequately describe proceduresSummarize resultsSummarize 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 differentIdentify the advantages/disadvantages of using different data gathering methods

Explain the dimensions of an interview, apply effective p pp yquestioning, and active listening techniques

Use specific methods and techniques to summarize ddata

28

Questions or Comments?

29