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Start Date

16-8-2018 12:00 AM

Description

Big data analytics (BDA) is being applied intensively in many industries to gather, transform, and analyze enormous datasets to identify patterns, support arguments and decisions. However, the auditing industry seems to be lethargic and reluctant to embrace the potentials BDA might bring to the auditing work. It is understandable that a sector with such stern regulations and tight control will tend to hold a conservative and cautious attitude toward new and infant technologies. In this paper, we have used a mixed method approach through, first conducting interviews with front-line auditors, and second, conducting a survey in the Big Four auditing firms in Taiwan. This study provides a preliminary understanding of auditors’ perceptions about applying BDA into financial auditing and recognize the hidden components that facilitate or hinder the adoption of BDA. Based on our findings, a recommendation of the business approach on how other auditing firms can take to fasten the process of integrating BDA into their auditing practices and the methods to reduce the barriers associated with it is presented in this study.

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Aug 16th, 12:00 AM

Applications of Big Data Analytics in Financial Auditing- A Study on The Big Four

Big data analytics (BDA) is being applied intensively in many industries to gather, transform, and analyze enormous datasets to identify patterns, support arguments and decisions. However, the auditing industry seems to be lethargic and reluctant to embrace the potentials BDA might bring to the auditing work. It is understandable that a sector with such stern regulations and tight control will tend to hold a conservative and cautious attitude toward new and infant technologies. In this paper, we have used a mixed method approach through, first conducting interviews with front-line auditors, and second, conducting a survey in the Big Four auditing firms in Taiwan. This study provides a preliminary understanding of auditors’ perceptions about applying BDA into financial auditing and recognize the hidden components that facilitate or hinder the adoption of BDA. Based on our findings, a recommendation of the business approach on how other auditing firms can take to fasten the process of integrating BDA into their auditing practices and the methods to reduce the barriers associated with it is presented in this study.