IIA-Australia Factsheet - Use of Data Analytics

IIA-Australia Factsheet - Use of Data Analytics

This is a members only resource. Please login to access. 

Author

IIA-Australia

Date

 2023

Topics Explored

Internal Audit

Format

Factsheet

Extract/Description

Data analytics are used to test controls and validate business risks are managed. Rather than test a number of transactions, the entire population of transactions can be reviewed for greater coverage. 

Key Points

    1. Data analytics provides significant benefit for internal auditors and business unit management.
    2. Computer-assisted audit techniques using data analytics should be considered for every internal audit engagement.
    3. Continuous auditing is regular (continuous) use of technology to interrogate large populations of data. 

Relevant Industries

All

Level of Assumed Knowledge

Intermediate