Graduate students at the University of Missouri - St. Louis are developing their own data analytics mini-cases including creating analytic tests, working with raw data and identifying errors as participants of the IDEA Academic Partnership. See how classroom instruction is helping future auditors and accountants build their data analytics skills through hands-on learning assignments
There is an old saying: Tell me and I forget. Teach me and I remember. Involve me and I learn. Masters students attending the University of Missouri - St. Louis are learning the highly-marketable skill of using data analytics to assess risk, test 100% of the data population and share their results.
Adjunct professor Doug Menendez, CIA, CISA acquired educational licenses of IDEA data analytics software through the IDEA Academic Partnership to integrate technology into the University’s “Data Analytics for Auditors” course. The Partnership provides educators with support and resources, including online video tutorials and workbooks with step-by-step instructions, to give students hands-on experience. Students who picked up the software quickly helped those who needed more help – creating a collaborative learning environment.
To get students thinking more holistically about data analytics, Professor Menendez assigned the students to develop their own data analytics mini-case as a final project for the course. Students selected an area for testing, designed the analytic tests, created the raw data and inserted errors to be discovered using data analysis techniques.
“The professional organizations including the IIA and ISACA are stressing the importance of data analytics as a key skill for both internal and external auditors,” said Menendez. “I believe that having data analytics experience is going to give the students a leg up during their interviews and will add immediate value to their employers and their professional development.”
Menendez also stated that graduate students benefited from being able to test 100% of the data population to provide more insight into testing and root cause analysis than sample testing could ever do. He plans to use some of the mini-cases in future classes with permission of the former students to help others learn through involvement. For more information about the IDEA Academic Partnership, visit www.audimation.com/academic.