Journal Article10.2308/AJPT-51684
Big Data and Analytics in the Modern Audit Engagement: Research Needs
325
TL;DR: In this paper, the need for the external audit profession to move toward Big Data and audit analytics is discussed, and the regulations regarding audit evidence and analytical procedures, in contrast to the emerging environment of big data and advanced analytics.
read more
Abstract: SUMMARY: Modern audit engagements often involve examination of clients that are using Big Data and analytics to remain competitive and relevant in today's business environment. Client systems now are integrated with the cloud, the Internet of Things, and external data sources such as social media. Furthermore, many engagement clients are now integrating this Big Data with new and complex business analytical approaches to generate intelligence for decision making. This scenario provides almost limitless opportunities and the urgency for the external auditor to utilize advanced analytics. This paper first positions the need for the external audit profession to move toward Big Data and audit analytics. It then reviews the regulations regarding audit evidence and analytical procedures, in contrast to the emerging environment of Big Data and advanced analytics. In a Big Data environment, the audit profession has the potential to undertake more advanced predictive and prescriptive-oriented analytics. The next s...
read more
Chat with Paper
AI Agents for this Paper
Find similar papers on Google Scholar, PubMed and Arxiv
Write a critical review of this paper
Analyze citations of this paper to find unaddressed research gaps
Citations
Increasing Efficiency in Stratified Audit Sampling via Bayesian Hierarchical Modeling
Koen Derks,Lotte Mensink,Jacques de Swart,Eric‐Jan Wagenmakers,Ruud Wetzels +4 more
- 19 Aug 2024
TL;DR: This study proposes Bayesian hierarchical modeling to evaluate stratified audit samples, improving efficiency by 70-90% compared to current methods, which focus on strata differences, by acknowledging and leveraging their similarities.
The Application of Data Analytics in the Investigation of Cyberattacks: Scope and Impact
Elvis Edem Agbadoku
TL;DR: This study explores the application of data analytics in investigating cyberattacks, examining its scope and impact on incident response, threat detection, and mitigation, highlighting the benefits and challenges of leveraging data analytics in cybersecurity.
Application of Data Analysis and Big Data in Auditing
Vahid Biglari,Zahra Pourabedin +1 more
- 01 Jan 2022
Data Analytics of Procurement Fraud Risks in Indonesia
TL;DR: In this article , the authors applied data analytics techniques to 2018 provincial tender data to determine the application of data analytics in handling the risk of procurement fraud in the 4.0 era, and the results show that descriptive statistical techniques can reveal the profile of collusion risk attributes.
Technological convergence in financial auditing: A systematic literature review
Dryelle Laiana de Jesus Silva dos Santos,Geovane Camilo dos Santos,Geovane Camilo dos Santos +2 more
References
The Internet of Things: A survey
TL;DR: This survey is directed to those who want to approach this complex discipline and contribute to its development, and finds that still major issues shall be faced by the research community.
15.3K
A model for types and levels of human interaction with automation
Raja Parasuraman,Thomas B. Sheridan,Christopher D. Wickens +2 more
- 01 May 2000
TL;DR: A model for types and levels of automation is outlined that can be applied to four broad classes of functions: 1) information acquisition; 2) information analysis; 3) decision and action selection; and 4) action implementation.
A few useful things to know about machine learning
TL;DR: Tapping into the "folk knowledge" needed to advance machine learning applications is a natural next step in the development of artificial intelligence systems.