Questions from Analytics


Q: Is it possible for multinational firms to have many different financial reporting

Is it possible for multinational firms to have many different financial reporting systems and ERP packages all in use at the same time?

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Q: How does the systems translator software work? How does it store

How does the systems translator software work? How does it store the merged data into a data warehouse?

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Q: Why is it better to extract data from a data warehouse than

Why is it better to extract data from a data warehouse than a production or live system directly?

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Q: Would an auditor view heterogeneous systems as an audit risk? Why

Would an auditor view heterogeneous systems as an audit risk? Why or why not?

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Q: Why would audit firms prefer to use proprietary workpapers rather than just

Why would audit firms prefer to use proprietary workpapers rather than just storing working papers on the cloud?

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Q: How do nature, extent, and timing of audit procedures help

How do nature, extent, and timing of audit procedures help us identify when to apply Data Analytics to the audit process?

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Q: When do you believe that Data Analytics will add value to the

When do you believe that Data Analytics will add value to the audit process? How can it most help?

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Q: Using Table 6-2 as a guide, compare and contrast

Using Table 6-2 as a guide, compare and contrast predictive and prescriptive analytics. How might these be used in an audit? Or a continuous audit?

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Q: An example of prescriptive analytics is when an action is recommended

An example of prescriptive analytics is when an action is recommended based on previously observed actions. For example, an analysis might help determine procedures to follow when new accounts are op...

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Q: How might Data Analytics be used in financial reporting? And how

How might Data Analytics be used in financial reporting? And how might it be used in doing tax planning?

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