Podcast: Is data analytics fundamentally transforming the audit?

Leading authority on big data, data analytics and continuous auditing, Prof. Miklos Vasarhelyi, explains how data analytics is impacting the audit. Prof. Vasarhelyi spoke to CPA’s policy adviser on audit and assurance, Claire Grayston, about the challenges and great opportunities which data analytics presents, noting that uptake by auditors has been slowed by uncertainty around the response of regulators to changes in the type of evidence gathered. It is clear from this podcast that data analytics is central to the future of audit.

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Article: Using audit data analytics to gain greater insights

Commentary: Data analytics set to reinvigorate the audit

Auditor Professional Scepticism: Impact of Trust and Distrust

Synthesis of Research Findings

The auditing profession is frequently called upon by regulators and standard setters to increase professional scepticism as a means of improving audit quality. A recent synthesis of research supported by CPA Australia explores how trust and distrust may be modified to enhance professional scepticism. This report supports the development of a better understanding of the drivers of professional scepticism to aid the profession in training auditors effectively.

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Commentary: How sceptical is sceptical enough for a quality audit?

Podcast: ASIC discuss their Audit Inspection Findings

Doug Niven, Senior Executive Leader, ASIC, discusses the ASIC audit inspection findings for 2014-15, covering reporting periods ending in the 18 months to 31 December 2014, with Claire Grayston, Audit and Assurance Policy Adviser, CPA Australia.

This podcast highlights the key lessons for auditors and the role of directors and audit committees in improving audit quality. It further outlines how Australian audits compare to those undertaken in other jurisdictions and ASIC’s areas of focus for the next inspection period. Access the Audit inspection program report for 2014-15 (PDF).

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    Date Title Topic Type
    16/01/17 Banks’ retreat from Asia a worrying example Economics
    10/01/17 Data analytics set to reinvigorate the audit
    Audit and assurance Commentary
    Better retirement protection in Hong Kong begins with the end of MPF offsetting Economics
    06/01/17 China already a renewable energy superpower Sustainability Commentary
    06/01/17 The year ahead: TPP is dead; long live global trade Politics Commentary
    06/01/17 Trans-Pacific Partnership: Australia cannot afford to be trumped on trade
    Politics Commentary
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