Business Analytics and Emerging Trends - Artikel Z - Analytics in auditing

7 important questions on Business Analytics and Emerging Trends - Artikel Z - Analytics in auditing

What kind of data analytics are done in the first financial audit phases of Rittenburg et al., 2010?

  • Helps auditor understand the entity and its environment
  • Helps auditor identify and assess risks of misstatements
  • Helps auditor understand the business, identify anomalies or outliers
  • Helps auditor plan the audit

What kind of data analytics are done in the final financial audit phases of Rittenburg et al., 2010?

  • Analytical procedures that evaluate financial information
  • Scanning: professional reviews accounting data to identify significant items

Why is IT audit a supportive role?

The controls that are in place in the processes have been created by IT and are necessary for the processes
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What are analytical procedures in IT audit used for?

  • Assiting auditor in planning other auditing procedures
  • Substantive testing to obtain evidential matter
  • Review of financial information in final review stage

What are the three types of data analytics (DA) in analytical procedures (AP)?

  • Scanning
  • Proof in total
  • Statistical predictive modeling

What is the advantage of DA in AP?

Replacing samples by whole population

What are the 4 criteria when selecting a data mining approach?

  • Scalability
  • Accuracy
  • Robustness
  • Interpretability

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