Audimation Services has been acquired by Caseware International Learn More.

X
Icon


Blog Image

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
Applying Fuzzy Logic to Acquire Clear Results
Oct 01 Fuzzy logic techniques are an effective way to normalize data to identify potential matches, duplicates, errors or fraud. Here are some tips and techniques from...
5 Ways Data Analytics Can Help You Attract & Retain Clients
Oct 01 Attracting and retaining clients is essential to the success of any external auditor or consultant. It’s also one of the profession’s top challenges...
Journal Entry Testing Made Simple
Jun 07 IDEA Smart Analyzer Financial Simplifies Tests as Recommended in Center for Audit Quality Practice Aid for Testing Journal Entries   The Center for Audi...
BROWSER NOT SUPPORTED

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

×