This introductory on demand course will examine how auditors traditionally use analytic procedures such as means, modes, and variance analysis. Collectively these traditional techniques are referred to as summary statistics. However, audit data analytics are much more than summary statistics. We will define and explore the term “audit data analytics” or ADAs. We will then walk-through ADAs’ application, including data visualization techniques using a custom programmed software.
The application of the ADAs has the potential to be a transformative change to how auditors perform testing. The change is analogous to Major League Baseball’s journey to embracing data analytics to help make decisions captured in the book and film Moneyball. This video aims to help auditors move into a data analytics mindset to unlock the opportunities of integrating ADAs into an audit engagement.
- Defining audit data analytics (ADA)
- Guiding the profession into the audit data analytic mindset
- Applying ADAs, including data visualization, through a customized software walkthrough
- Exploring the future of ADAs for the audit profession
- Identifying the benefits and challenges of using ADAs
2.0 hrs of verifiable CPD (Certificate will be provided upon course completion)6