Joint Meeting of the Mid-Atlantic and Northeast Regions

Deanna’s Delights, Inc.: Data Analytics in the Audit of the Procurement Cycle

• In Event: Applications of Data Analytics in the Classroom

Abstract

Auditing has become increasingly focused on using data analysis techniques to examine large data sets. This now occurs in all three phases of a {nancial statement audit: planning, testing and gathering evidence, and {nal review. Many audit activities use limited or cleaned data and guide students through routine data analytics processes. The case presented is aimed at students at various levels of mastery of data analytics, suitable for an introduction to the concept and for more experienced students. It introduces the concepts of auditing and internal control processes as a way to introduce them to the need for critical thinking and problem solving. Students are given a complex case and determine their own testing procedures. They then perform those tests on the provided data to learn the value and limitations of data analytics in audit risk assessment.

Authors

• Veronica Paz, Indiana University of Pennsylvania

• Janet Lynn Souza, Saint Joseph's University

• Andrew S Weinberger, CCSU

• Samantha Marie Dzielski, Indiana University of Pennsylvania