Audit Data Analytics
Audit Data Standards
Learn more about these voluntary IT audit data standards and obtain a copy.
Audit Data Analytics Guide
Learn more about the AICPA's new Guide to Audit Data Analytics.
Learn more about the Rutgers AICPA Data Analytics Research Initiative.
ASEC Emerging Assurance Technologies Task Force - Objectives
The ASEC Emerging Assurance Technologies Task Force is responsible for developing a conceptual framework and guidance to capitalize on emerging technologies affecting the business information supply chain, covering both internal and external reporting, including:
- Data access (creating Audit Data Standards) and
- Data analysis (developing a framework that maps audit objectives to innovative, automated data analytic procedures)
- Continuous Assurance and continuous control monitoring
The ASEC's Emerging Assurance Technologies Task Force has developed the Audit Data Analytics to Traditional Procedures Mapping document to illustrate how data analytics can be used to automate audit procedures that are traditionally performed manually. Access a copy of this resource on the Audit Data Analytics guide webpage.
The AICPA has developed a new guide entitled "Guide to Audit Data Analytics." This new guide illustrates how audit data analytic techniques can be applied to the financial statement audit. To learn more about this new guide please visit the guide webpage. Please read the press release here.
Rutgers Business School and the AICPA have launched the Rutgers AICPA Data Analytics Research Initiative ("the Initiative"). The Initiative will facilitate the integration of data analytics into the audit process, and demonstrate through research how this can lead to advancements in the public accounting profession. The scope of the research will encompass the testing of theory and methodology to inform the development of professional guidance on the application of audit data analytics.
To learn more about this initiative, please visit the Initiative website.
The Continuous Assurance/Continuous Control Monitoring working group has published a compendium of essay’s entitled, Audit Analytics and Continuous Audit: Looking Toward the Future. Audit Analytics and Continuous Audit: Looking Toward the Future discusses the theory of modern continuous assurance, audit analytics, and includes detailed examples and case studies of companies today that have implemented these techniques into their day-to-day operations.
To learn more about this publication, please visit the working group website here.
Helpful Links and Additional Resources
Learn more about audit data analytics and how to engage in productive dialogue with your clients to promote increased use of data analytics into the audits of financial statements. CPA Canada's Audit data analytics alert: Talking to your audit clients about data analytics.
Learn more about audit data analytics and how you can work with your auditors to promote more frequent and effective use of data analytics in your organization's financial statement audit. CPA Canada's Audit client briefing: Why CFOs should support the use of audit data analytics.
Learn more about how auditors, external and internal, are using technology in FEI's, Data Analytics and Financial Compliance, research report.
Learn more about how audit analytics are being used in innovative ways by reading AICPA Insights newest blog, How to Clean Your Data and Make it Look Slick.
Learn more about audit data analytics and the drivers, opportunities and hurdles to overcome in integrating more extensive use of data analytics into the audit of financial statements in CPA Canada’s Audit Data Analytics Alert – Keeping up with the Pace of Change.
Dorothy McQuilken, Senior Manager, Audit Analytics and ERM