Individual Assignment-SEM 1, 2021
Individual Assignment-SEM 1, 2021
1. Identify the factors contributing to the use of data analytics in financial statement audits.
2. Distinguish between traditional auditing methodologies from data analytics tools used in
auditing.
3. Application of the concepts of professional judgment, professional skepticism and
audit risk and planning in the audit process.
4. Explain the fundamental principles of the Professional Code of Ethics.
5. Evaluate auditor’s legal liability to their clients and third parties from the use of
data analytics.
1
Learning resources
.
Earley, C. (2015). Data analytics in auditing: Opportunities and challenges. Business Horizons,
58(5), 493-500.
Rose, A. M., Rose, J. M., Sanderson, K. A., & Thibodeau, J. C. (2017). When should audit firms introduce
analyses of Big Data into the audit process? Journal of Information Systems, 31(3),
81-99.
Note
Read the article titled, ‘Earley, C. (2015). Data analytics in auditing: Opportunities and
challenges. This reading aims to give you an understanding of the background to data analytics