Question: Watch the video provided by CPA Canada at https://youtu.be/6qPZJfe5jXc and answer the following questions: a. Is the primary purpose of using audit data analytics to

Watch the video provided by CPA Canada at https://youtu.be/6qPZJfe5jXc and answer the following questions:
a. Is the primary purpose of using audit data analytics to discover material misstatements? Why or why not?
b. What might be some challenges that CPAs and firms have when trying to implement ADAs? How can they be addressed? (You may find it helpful to search for the page on the CPA Canada website called “An Inside Look at How Auditors in Canada Are Using Data Analytics” by CPA Canada and review it.)

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Based on the information provided in the video and the additional resource mentioned here are my answers to your questions a No the primary purpose of using audit data analytics ADAs is not solely to ... View full answer

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