DESCRIPTION
In this module, using multiple group discussions and exercises, participants will discuss the use of automated tools and techniques in auditing. The session will include a discussion of best practices for data acquisition and how to request the right information for the audit procedures being performed, as well as opportunities for dual-purpose testing (using data analytics procedures to obtain evidence simultaneously for risk assessment and substantive testing).
LEARNING OBJECTIVES
- Define Audit Data Analytics (“ADA”) and how ADAs are used in the audit process
- Describe best practices for obtaining and utilizing data provided by clients for further audit procedures
- Design and perform dual-purpose tests