X
Icon

The 21st Minute


Blog


The Next Frontier in Data Analytics

Reprint from Journal of Accountancy


by: Norbert Tschakert, CPA/CFF/CITP, Ph.D.; Julia Kokina, CPA, Ph.D.; Stephen Kozlowski, CPA, CGMA, Ph.D.; and Miklos Vasarhelyi, Ph.D.

As technology continues to evolve, it promotes changes to business models and surprises those who are unprepared. Businesses change their strategies and the way they operate. New threats and opportunities arise. In an increasingly data-driven world, CPAs need to be able to adapt to these technological disruptions.

CPAs now often find themselves performing tasks that require skills in data analytics:

  • Both internal and external auditors are using data analytics to enable practices such as continuous monitoring, continuous auditing, and analysis of full data sets in situations where only samples were audited.
  • Financial planning and analysis professionals analyze data in hopes of discovering the best course of action for their companies.
  • CFOs and finance leaders use Big Data to find patterns in customer behavior and market trends to drive company strategy.

Read Full Article Here 


Best Practices , CaseWare IDEA , News



Posted By

By Team Audimation


Related Posts
Lead Don't Lag - Pointers from the Pros
Aug 28 Global consulting firm Protiviti recently released its 2019 Internal Audit Capabilities and Needs Survey, which revealed that while most internal audit groups c...
Tech Tip: Duplicate Identification
Aug 28 Raw data is often incomplete, messy and inconsistent. One of the first steps in the data preparation process is the detection and removal of duplicate records. ...
Wayfair Woes One Year Later
Jul 24 The rise in online shopping has sharply impacted state sales tax revenue. Rather than increasing the tax rate, states are setting parameters to define nexus, wh...
BROWSER NOT SUPPORTED

This website has been designed for modern browsers. Please update. Update my browser now

×