Think of audit data analytics (ADAs) as "the science and art of discovering and analyzing patterns; identifying anomalies; and extracting other useful information in data underlying or related to the subject matter of an audit through analysis, modeling, and visualization."
Simply put, you can use ADAs to perform a variety of procedures to gather audit evidence in your next financial statement audit.ADAs put into practice
Each chapter of the guide focuses on an audit area and includes step-by-step guidance illustrating how ADAs can be used throughout the financial statement audit.
Suggested considerations for assessing the reliability of data are also included in a separate appendix.Get this guide for free.
Guide to Audit Data Analytics is included when you purchase the Analytical Procedures: Audit Guide.
Together, they show how analytics techniques can be applied to the audit while staying within the current auditing standards.