The AICPA Assurance Services Executive Committee Emerging Assurance Technologies Task Force: The Audit Data Standards (ADS) Initiative

2012 ◽  
Vol 26 (1) ◽  
pp. 199-205 ◽  
Author(s):  
Li Zhang ◽  
Amy R. Pawlicki ◽  
Dorothy McQuilken ◽  
William R. Titera

ABSTRACT Data acquisition difficulties have hindered the application of advanced audit technology and audit analytics, and accentuated the challenges to meet growing audit demands. To alleviate this problem, this paper discusses the main drivers to evolve the audit process: data standards, data access, audit applications, and continuous audit. As a joint effort between the AICPA and academia, this paper provides guidance and suggestions to internal and external auditors, as well as scholars to develop knowledge for leading edge practice (Kaplan 2011).

2013 ◽  
Vol 27 (1) ◽  
pp. 325-331 ◽  
Author(s):  
William R. Titera

ABSTRACT This paper highlights the emerging role of data analysis on the financial statement audit and its value throughout the audit process, particularly in providing audit evidence. It raises the issue of needed revisions to the Audit Standards, whether for public or private company audits, and illustrates how certain of the current Audit Standards inhibit the external auditors' use of enhanced data analysis and continuous auditing techniques. While this whitepaper identifies a few audit standards that could be revised in light of current technological capabilities, it does not purport to address all needed revisions. Rather, it recommends that a more in-depth analysis be undertaken to develop needed guidance, as well as a list of recommended changes to the standards.


Author(s):  
Deborah Paul ◽  
Pamela Soltis

The COVID-19 pandemic has disrupted all aspects of our lives, but has also spawned new opportunities. Months of multidisciplinary, global collaboration have explored the connections between natural history collections and COVID-19. Museums have unrivalled (and still largely untapped) potential to contribute data, methods, and expertise to prediction, mitigation, and prevention efforts related to zoonotic disease outbreaks (DiEuliis et al. 2016, Dunnum et al. 2017), and there is a clear need for ongoing collaboration across (at least) microbiology, disease ecology, and natural history collections. In addition, we note that the roadblocks to effective data access and integration related to microbes and their hosts are a microcosm of the larger data landscape; solving these issues in the context of COVID-19—from liberating data from publications to ensuring digital connections between voucher specimens and all derived viral genetic sequences—will improve biodiversity data access and use more broadly. Efforts since March 2020 have promoted collaboration across disciplines, international boundaries, and continents. At iDigBio, staff updated information about genetic/genomic resources available in US mammal collections; 24 records were added and information enhanced (Cortez and Soltis 2020). The Distributed System of Scientific Collections (DiSSCo) and the Consortium of European Taxonomic Facilities (CETAF) formed a worldwide COVID-19 Task Force (TaF). A US-led group formed the ViralMuse Task Force, working in concert with the TaF. Activities of the TaF centered on four areas: building a hub to coalesce knowledge from this group in a central location – including mining mammals-of-the-world literature, improving the metadata shared when publishing sequence data, encouraging virologists to voucher in museum collections, and gathering critical research questions around zoonotic disease from the scientific community. Through an online public event, this TaF shared work to date and critical next steps. Ongoing efforts include further refinement of metadata requirements for deposition of viral genetic data to include host specimen voucher identifiers, development of methods for better integration of bat and pathogen data from the literature and databases, analysis of community surveys, and development of webinars, symposia, and publications to report the work of the TaF. Members of the ViralMuse group worked to raise awareness of the critical value of and need for museum experts, collections data, and samples in any analyses of zoonotic events. ViralMuse members (Cook et al. 2020) stressed the need for collaborative action to: develop guidelines for keeping samples of both pathogens and hosts. develop and implement metadata requirements for physical specimens and samples. expand investment in infrastructure, both cyber and physical, to support archives of biological materials. increase communication and development of new channels of dialogue and collaboration among museum scientists, microbiologists, bioinformaticians, biomedical professionals, and disease ecologists. enhance financial support and realize strong leadership from federal agencies, international partners, and private foundations to develop proactive, multi-disciplinary approaches to future pandemics (see also da Silva et al. 2020). develop guidelines for keeping samples of both pathogens and hosts. develop and implement metadata requirements for physical specimens and samples. expand investment in infrastructure, both cyber and physical, to support archives of biological materials. increase communication and development of new channels of dialogue and collaboration among museum scientists, microbiologists, bioinformaticians, biomedical professionals, and disease ecologists. enhance financial support and realize strong leadership from federal agencies, international partners, and private foundations to develop proactive, multi-disciplinary approaches to future pandemics (see also da Silva et al. 2020). ViralMuse continues to advance these goals. To reach a broader audience, we published an article in The Conversation (Soltis et al. 2020). A new project, funded by the US National Science Foundation (NSF), is aimed at enhancing existing published museum specimen data relevant to one potential reservoir of SARS-CoV-2, horseshoe bats (Mast and Paul 2020). NSF has also provided support to foster continued collaboration, infrastructure development, and integration of communities of practice concerning zoonotic diseases (Soltis and Paul 2020). From a TDWG perspective, issues relating to data access, data standards, and data integration require attention. Methods to liberate data from publications need to be expanded, and proposed metadata requirements for viral genetic sequences need to be implemented by international databases and adopted by the community. A summit on collections management software could help align efforts to both store and share the necessary host-pathogen information in standards-compliant formats that support discovery, access, and citation/attribution. A new and effective communication strategy is needed to develop an integrated research community (comprising the biodiversity, collections, data science, disease ecology, microbiology, and One Health communities) and to support needed changes in standards of practice (emphasizing vouchering, data standards, and data integration).


Author(s):  
Lorraine S. Lee ◽  
Gretchen Casterella ◽  
Barry Wray

It is challenging for auditors to effectively and efficiently use data analytics in audit procedures and general ledger testing when the data acquired from clients is often incomplete and not in a usable format. Considerable time must be spent cleansing, transforming, standardizing, and validating the data prior to analyzing it. This problem motivated the AICPA task force to develop a set of Audit Data Standards for streamlining the exchange of data.  This paper describes an extensive exercise where students: 1) develop a Microsoft Access database that complies with the Audit Data Standards (ADS) for general ledger data; 2) cleanse and transform non-standardized client data for import into an ADS-compliant database; and 3) write queries for general ledger testing and journal entry testing. The exercise strengthens students’ database and query-writing skills while introducing the ADS in the context of realistic tasks to support a financial statement audit.


2012 ◽  
Vol 4 (2) ◽  
pp. 91-110
Author(s):  
Caroline Sytha Sunarta ◽  
Suhajar Wiyoto

The objective of this research is to examine the effect of auditor’s independency, competency, and job experience towards audit quality.This research is conducted by using method survey to public accountants (external auditors) that working settled in Public Accountant Firm (KAP) in Jakarta and Tangerang, in 2012 and have one year minimum experience, as respondents with type research of causality. Using likert scale as an instrument (questionaire) for measure auditor’s perceptions about the independency, competency, and job experience that influence audit quality. From 150 questionaire distributed, returned was 109 questionaire, and 24 not complete, so that only 85 questionaire could be process. Data analysis conducted with multiple regression model. The hypotheses tested are revealed as that independency, competency, and job experience have influence to audit quality as well as partially and simultaneously. The result of the test showed empirical testimony that auditor’s independency, competency, and job experience as well as simultaneously significantly influence audit quality. Partially, independency, competency, and job experience also have significant influence to audit quality. Future research expected can extend survey area coverage and add more independent variables that can have influence to audit quality. Keywords: independency, competency, job experience, audit quality.


2019 ◽  
Vol 6 (1) ◽  
Author(s):  
Mahdi Torabzadehkashi ◽  
Siavash Rezaei ◽  
Ali HeydariGorji ◽  
Hosein Bobarshad ◽  
Vladimir Alves ◽  
...  

AbstractIn the era of big data applications, the demand for more sophisticated data centers and high-performance data processing mechanisms is increasing drastically. Data are originally stored in storage systems. To process data, application servers need to fetch them from storage devices, which imposes the cost of moving data to the system. This cost has a direct relation with the distance of processing engines from the data. This is the key motivation for the emergence of distributed processing platforms such as Hadoop, which move process closer to data. Computational storage devices (CSDs) push the “move process to data” paradigm to its ultimate boundaries by deploying embedded processing engines inside storage devices to process data. In this paper, we introduce Catalina, an efficient and flexible computational storage platform, that provides a seamless environment to process data in-place. Catalina is the first CSD equipped with a dedicated application processor running a full-fledged operating system that provides filesystem-level data access for the applications. Thus, a vast spectrum of applications can be ported for running on Catalina CSDs. Due to these unique features, to the best of our knowledge, Catalina CSD is the only in-storage processing platform that can be seamlessly deployed in clusters to run distributed applications such as Hadoop MapReduce and HPC applications in-place without any modifications on the underlying distributed processing framework. For the proof of concept, we build a fully functional Catalina prototype and a CSD-equipped platform using 16 Catalina CSDs to run Intel HiBench Hadoop and HPC benchmarks to investigate the benefits of deploying Catalina CSDs in the distributed processing environments. The experimental results show up to 2.2× improvement in performance and 4.3× reduction in energy consumption, respectively, for running Hadoop MapReduce benchmarks. Additionally, thanks to the Neon SIMD engines, the performance and energy efficiency of DFT algorithms are improved up to 5.4× and 8.9×, respectively.


2021 ◽  
Vol 1 (2) ◽  
pp. 89
Author(s):  
Lutfia Rizkyatul Akbar ◽  
Gunadi Gunadi

This study aims to assess the implementation of the openness of banking data access policies to improving tax compliance in Indonesia. It cause by the implementation of tax collection using a self-assessment system, thus requiring taxpayer data and information through financial institutions, include banking. Researchers used qualitative descriptive methods. The results of this study are, first, there is support for the implementation of the policy on openness to access to banking data in increasing tax compliance in Indonesia in the form of the issuance of Law Number 9 of 2017 concerning Access to Financial Information. Second, the implementation of banking data disclosure policies to increase tax compliance in Indonesia, including the willingness of target groups to comply with policy outputs, in this case the reporting of customer data by banks to the DGT. Third, the policy of open banking data access does not impede or reduce the number of bank accounts and deposits. Fourth, there are technical obstacles both by the DGT and the banking sector, especially in the first year. Furthermore, there are several inhibiting factors in the implementation of this policy, namely IT factors, and resistance from some circles at the beginning of the emergence of regulations, limited financial resources to process data quickly, so it must be done gradually, in addition to lack of quantity and quality of human resources 


2018 ◽  
Vol 17 (3) ◽  
pp. 387-426 ◽  
Author(s):  
Carolyn Mactavish ◽  
Susan McCracken ◽  
Regan N. Schmidt

2019 ◽  
Vol 95 (2) ◽  
pp. 311-338 ◽  
Author(s):  
Michelle Nessa ◽  
Casey M Schwab ◽  
Bridget Stomberg ◽  
Erin M. Towery

ABSTRACT This study investigates how Internal Revenue Service resources affect the IRS audit process for publicly traded corporations. Using confidential IRS audit data, we examine the effect of IRS resources on the incidence and magnitude of proposed deficiencies and settlement outcomes. We find that IRS resources are positively associated with both the likelihood and magnitude of proposed deficiencies, but negatively associated with the proportion of proposed deficiencies collected. These results are consistent with the IRS focusing on fewer positions, but targeting positions supported by weaker taxpayer facts when resources are more limited. Based on our findings, we estimate the loss in tax collections from audits of LB&I corporate tax returns alone exceeds the savings from reductions in the IRS enforcement budget. This study contributes to the literature examining the strategic game between tax authorities and corporate taxpayers and has important implications for policymakers, particularly in light of recent IRS budget cuts.


Author(s):  
Bernhard Kittel ◽  
Sylvia Kritzinger ◽  
Hajo Boomgaarden ◽  
Barbara Prainsack ◽  
Jakob-Moritz Eberl ◽  
...  

Abstract Systematic and openly accessible data are vital to the scientific understanding of the social, political, and economic consequences of the COVID-19 pandemic. This article introduces the Austrian Corona Panel Project (ACPP), which has generated a unique, publicly available data set from late March 2020 onwards. ACPP has been designed to capture the social, political, and economic impact of the COVID-19 crisis on the Austrian population on a weekly basis. The thematic scope of the study covers several core dimensions related to the individual and societal impact of the COVID-19 crisis. The panel survey has a sample size of approximately 1500 respondents per wave. It contains questions that are asked every week, complemented by domain-specific modules to explore specific topics in more detail. The article presents details on the data collection process, data quality, the potential for analysis, and the modalities of data access pertaining to the first ten waves of the study.


2012 ◽  
Vol 6 (2) ◽  
pp. A15-A25 ◽  
Author(s):  
Jonathan Grenier ◽  
Brian Ballou ◽  
Seth Philip

SUMMARY:  The purpose of this paper is to generate and inform academic, practitioner, and regulatory discussion on means to promote perceived and actual audit committee effectiveness. As one potential method, we propose that the SEC initiate a CPE-driven certification program for audit committee members designated as financial experts. Our proposal addresses many of the challenges that post-SOX audit committees face (cf. Beasley et al. 2009; Cohen et al. 2010) by emphasizing their oversight role, sharing audit committee best practices, enhancing the accountabilities of external auditors, and sending a strong signal to stakeholders that the audit committee owns the audit process.


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