With a rapidly changing regulatory environment, stakeholders are demanding more confidence and value from audit, particularly with the emergence of technologies such as data analytics. Data analytics is significantly changing the way auditors approach and conduct audit, where data is now brought to life to allow an in-depth risk assessment and more continuous real-time audit procedures to be performed - subjecting entire populations to audit procedures, not just samples. This course examines the application of data analytics in audit based on an underlying risk-based methodology with real-life examples. Students will also learn about practical aspects in the audit analytics process such as extraction, transformation and loading of data as well as the actual execution of audit analytics tests and visualisation of the results in software such as Tableau. By the end of the course, students, in their respective groups, are expected to conceptualise the application of audit analytics in real-life companies through development of prototype dashboards. Guidance from Deloitte audit partners will be provided through meetings with the students throughout the course.
This course contributes to the development of the following learning goals:
- Our students can recognize, develop, measure, record, validate and communicate financial and other related information.
- Our students can analyze, synthesize and evaluate financial and other related information for decision making in a management context.
- Our students understand and can apply concepts relating to business processes, audit and assurance.
- Our students understand and can apply business concepts and principles.
- Our students can communicate effectively in a business context.
Students used data analytics to work on the audit of different areas of the company.