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IUM Ways in Which Big Data Data Analytics & New Technologies Can Enhance External Audits Paper & PPT

IUM Ways in Which Big Data Data Analytics & New Technologies Can Enhance External Audits Paper & PPT

Question Description

Scenario:

You are a senior auditor at the CPA firm of Aoife & Josephine, LLC. Your manager

(professor) calls you into her office to discuss the use of Tableau, data analytic and

visualization software, on an upcoming audit for a client. She highly suggests you learn

how to use Tableau to perform data analytics on sales revenue. Further, she suggests

you read the following articles to prepare for this audit:

  • Cao, M., R. Chychyla, and T. Stewart. 2015. Big Data analytics in financial
  • statement audits. Accounting Horizons 29 (2): 423–429.

  • Raphael, J. 2017. Rethinking the audit. Journal of Accountancy 223 (4): 28–32.
  • On the ICAEW Website, you may download an excellent report:
  • ICAEW.com. (2016). Data analytics for external auditors.

    Steps to Completion

    Step 1: Read the articles recommended by your manager (professor) to gain an

    understanding about how big data, data analytics, and new technologies are

    transforming external audits.

    Step 2: Read the case: Using Visualization Software in the Audit of Revenue

    Transactions to Identify Anomalies,

    Step 3: Review resources to learn how to use Tableau in Appendix A on the last page

    of this document. Collaborate with your online discussion group to learn Tableau tips.

    Step 4: Complete the case requirements that start on page 35 of Using Visualization

    Software in the Audit of Revenue Transactions to Identify Anomalies.

    Step 5: Complete one additional requirement not included in the case;

    Prepare a PowerPoint presentation to present your

    findings to your manager (professor) and audit team (classmates).

    Prepare a Power Point presentation that includes the following:

    ? Graphs, tables, and other data visualization tools to explain your findings

    ? Speakers notes must be placed under each slide.


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