Wen Ting Lu

  • Arguably the first widely used big data tool, Splunk provides the kind of end-to-end user experience open source solutions lack

    Nearly all essential data infrastructure these days is open source. Despite […]

  • The main reason behind the rising popularity of data science is the incredible amount of digital data that gets stored and processed daily. Usually, this abundant data is referred to as “big data” and it’s no […]

  • Thanks for sharing! Every click we made on the internet is being tracked. Professor mentioned briefly in class about Affinity analysis. I did some search online, affinity analysis is used to determine what advertisements should show up on user’s facebook page. Affinity analysis is a data analysis and data mining technique that discovers…[Read more]

  • Wen Ting Lu posted a new activity comment 3 days, 5 hours ago

    Thanks for sharing the news!
    It’s an interesting but also serious issue that should be brought up to people’s attention. Can you imagine that what will happen in future if your health information or DNA sequence is taken by someone else? As the officials mentioned in the article, “If you are a victim of identity theft, you can change your PIN…[Read more]

  • As data volumes continue to grow, most businesses are finding it hard to keep up. Only minority group of organizations have mastered data governance.

    Poor data governance can result in many consequences that […]

  • Wen Ting Lu posted a new activity comment 3 weeks, 6 days ago

    Hi Celine, I am sorry to hear about the unpleasant experience occurred in your previous job. Bureaucracy is more people doing fewer things and taking more time to do them worse. In your situation, you were trying to assist the auditor in getting the work done efficiently; however, the auditor didn’t appreciate your help and he scolded you for not…[Read more]

  • Wen Ting Lu posted a new activity comment 3 weeks, 6 days ago

    Nice post, I agree with you fakers will influence their professional career because nobody will trust auditors who are not honest. In addition, with false information, it might cause catastrophic damage to a business operationally and financially. Credibility doesn’t just mean being honest. To be sure, honesty is essential to credibility.…[Read more]

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    Data analytics is useful for a lot of things, from predicting shopping patterns, the weather, even whom you should be dating. Surprisingly, data analysis didn’t utilize as much to detect corporate fraud. So […]

  • I really like the “AUDITOR” you brought up. I can’t agree with you more that in order to become a successful auditor all of the characteristics must be meet. On top of being able to communicate with the clients and build up trust with them, it’s also important for the auditor to be independence. Auditor independence refers to the independence of…[Read more]

  • Thanks for sharing Darin.
    I agree with both Yulun and Blake, I also think that getting the right people looking at the data is the most important one out of seven recommendations. We analyze the data collected to make decisions, therefore it’s very critical that we have someone who understands the data and is able to make decisions that will…[Read more]

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    Modern business intelligence and analytics continues to expand more rapidly than the overall market, which is offsetting declines in traditional business intelligence spending. A Gartner study stated that […]

  • Wen Ting Lu posted a new activity comment 1 month, 2 weeks ago

    Thanks for sharing this interesting article!
    I think this is a really fascinating APP! Just out of curiosity I would give this app a try.
    It’s amazing that this new technology is able to analyze the information collected and provide the consumer with a custom clothing. However, just be analyze the information collected in one week might not…[Read more]

  • Hi, everyone.

    My name is Wenting Lu, I am originally from China. This is my second semester in the ITACS program, and I am concentrating on the IT auditing track. I was majored in Accounting with a minor in […]

  • Wen Ting Lu posted a new activity comment 3 months, 2 weeks ago

    There are many factors that could influence the actual cost of implementation
    – the company’s industry
    -the size of the company
    companies should expect to pay around $4,000 per concurrent user for a manufacturing or complex distribution company and around $2,000 per concurrent user for a professional services or light distribution company.…[Read more]

  • Wen Ting Lu posted a new activity comment 3 months, 2 weeks ago

    You are correct. There are many benefits of automated controls. However, there are also challenges when automated controls implemented. For example, there might be resource constraints, insufficient knowledge of GRC-enabled technology, and automated controls might increased short-term audit costs, risk of false controls reporting. Also, there is…[Read more]

  • Wen Ting Lu posted a new activity comment 3 months, 2 weeks ago

    I agree with you! Chambers said, ” “If you want to be successful, you have to be willing to invest in yourself,” Nonstop curiosity helps even the most experienced auditors gain new insight. As business needs shift, professionals should be proactive about developing new areas of expertise. In order to build up reputation and maintain a good eth…[Read more]

  • Wen Ting Lu posted a new activity comment 3 months, 2 weeks ago

    I agree with you that interpersonal skills are very important. Especially for auditors, strong communication skill is a must. Concise, compelling reports are part of communication skill, as well as the ability to listen and to know the best format in which to present information. Also, have an open mind and be willing to accept perspectives from…[Read more]

  • Wen Ting Lu posted a new activity comment 3 months, 2 weeks ago

    3. A person’s character is very crucial in the audit industry. How would you build your reputation and maintain a good ethical character in this industry?

    Integrity is very important in any business setting. Internal auditors need to be trustworthy but also have confidence and resilience when faced with complex problems. Credibility must be b…[Read more]

  • Wen Ting Lu posted a new activity comment 3 months, 2 weeks ago

    2. In the Real World Control Failures we’ve reviewed, describe the character of the leaders involved. Is it a root of the control failures?

    The real world control failures project I did was on JDA software group. JDA lacked adequate revenue recognition policies and procedures and failed to identify all service-related contracts needed for v…[Read more]

  • Wen Ting Lu posted a new activity comment 3 months, 2 weeks ago

    1. How much of automated controls should be desired? Is it beneficial to consider controls at the initial design phase or controls are introduced as and when needs arise?

    There are lots of benefits for business to implement automated controls. Automated control reduces cost of controls, research and avoidance. Also, it lowers the cost of audit,…[Read more]

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