The Assurance Services Executive Committee's Emerging Assurance Technologies Task Force established the Audit Data Standard working group to develop a standardized data model that facilitates the use of enhanced analytics.
Audit Data Standards – Overview
One of the challenges that management and auditors face is obtaining accurate data in a usable format following a repeatable process. As a result, this working group has developed voluntary, uniform audit data standards that identify the key information needed for audits and provide a common framework covering: (1) data file definitions and technical specifications, (2) data field definitions and technical specifications, and (3) supplemental questions and data validation routines to help auditors better understand the data and assess its completeness and integrity. The standards are offered in either of the following two file formats: (1) flat file format (pipe-delimited UTF-8 text file format) and (2) Extensible Business Reporting Language Global Ledger Taxonomy Framework (XBRL GL).
Audit Data Standards and the Financial Statement Audit
This video discusses the Audit Data Standards and some of the other projects and initiatives going on in the area of Audit Data Analytics.
Upgrade the Financial Statement Audit with Audit Data Analytics
This video illustrates how Python, an open source programming language, can be used to apply the AICPA’s Audit Data Standard formatting to a data set, and how to develop routines to further analyze the Audit Data Standard standardized data set.Learn more about Python
Helpful Links and Additional Resources
View all of the audit data standards.
Microsoft collaborates with AICPA using Audit Data Standards with Dynamics
While collaborating with the AICPA, Microsoft has developed a demo of how Dynamics ERP customers can use Management Reporter to help share their data with their auditor, following the Audit Data Standards.
AICPA Moves Closer to Audit Data Standards
Learn more about the new Order to Cash and Procure to Pay subledger standards
Audit Data Standards: Revolutionizing Business Information
From internal and external auditors to management and more...find out more about who can benefit from the Audit Data Standards
Audit Data Gathering in Ten Minutes or Less
Learn more about how the Audit Data Standards can cut down on the amount time it takes to gather audit data.