Data analytics has been emphasized as an effective tool in audit engagements. However, both our understanding and the use of data analytics in audit engagements are limited." - quoted from Wang, T., & Cuthbertson, R. (2015).

References:

Wang, T., & Cuthbertson, R. (2015). Eight issues on audit data analytics we would like researched. Journal of Information Systems, 29(1), 155-162.

1. In not more than 100 words, define and explain what data analytics are.
2. In not more than 600 words, how are data analytics applied in audit? You must explain in detail how data
3. Analytics are used in audit. Give and elaborate three (3) examples.
4. Why data analytics are applied in those three (3) examples? What are the benefits to the company or
5. organisation? (100 words)
6. What are the considerations when implementing data analytics in audit? (100 words)
7. In not more than 100 words, write your conclusion. What is the future of data analytics in audit? What are
8. The biggest challenges in applying data analytics in audit?

Answer rating: 100% (QA)

SOLUTION Definition and explanation of data analytics Data analytics refers to the process of examining large sets of data to discover patterns trends and insights It involves the use of various stati... View the full answer