A Picture is Worth a Thousand Words: Using Interactive Data Visualization to Assess Fraud Risk

2021 ◽  
Author(s):  
Johan L Perols ◽  
Ann C Dzuranin
Keyword(s):  
Data Visualization ◽  
Data Analytics ◽  
Data File ◽  
Initial Evaluation ◽  
Accounting Firms ◽  
Fraud Risk ◽  
Audit Data ◽  
Interactive Data ◽  
Financial Transactions

Accounting firms are making significant investments in audit data analytics technologies to modernize their audit services and the audit profession is believed to now be on the verge of a transformation (BDO 2016; Deloitte 2016; EY 2015; Forbes Insights 2015; PwC 2015). In particular, the firms are emphasizing newer technologies such as interactive data visualization (BDO 2016; Deloitte 2016; PwC 2016) and they are increasingly expecting students to have data analytics skills (Forbes Insights 2015; PwC 2015). In this case you take on the role of Bryan, an audit senior assigned to Acme. Brian has been tasked with using interactive data visualization to gain an understanding of Acme’s sales and perform an initial evaluation of two fraud risks identified during a fraud brainstorming session.  Brian has been given a data file with over 250,000 financial transactions and five master tables that he is supposed to analyze using interactive data visualization.

An Exploratory Study into the Use of Audit Data Analytics on Audit Engagements

2020 ◽  
Vol 34 (4) ◽  
pp. 75-103 ◽  
Author(s):  
Aasmund Eilifsen ◽  
Finn Kinserdal ◽  
William F. Messier ◽  
Thomas E. McKee
Keyword(s):  
Institutional Theory ◽  
Professional Practice ◽  
Exploratory Study ◽  
Data Analytics ◽  
Data Availability ◽  
Public Accounting ◽  
Accounting Firms ◽  
It Systems ◽  
Audit Data ◽  
Public Accounting Firms

SYNOPSIS This study explores the use of audit data analytics (ADA) in current audit practice. First, we interviewed the heads of professional practice of five international public accounting firms in Norway. We find that they differ in strategies on how to implement ADA and the heads report significant uncertainty about the supervisory inspection authorities' response to the use of ADA. Second, we administered a questionnaire to 216 engagement partners and managers about their perceptions of ADA and their actual ADA use on 109 audit engagements. Overall, the attitudes toward ADA usefulness are positive. Analysis of the audit engagements suggests use of ADA is relatively limited and use of more “advanced” ADA is rare. More ADA are used for clients with integrated ERP/IT systems and for newly tendered audit engagements. We also provide details of ADA use on each phase of the audit. We discuss our findings from an institutional theory perspective. Data Availability: The data used in this study are confidential by agreement with the participants.

Teaching Data Analytics Skills in Auditing Classes Using Tableau

2018 ◽  
Vol 15 (2) ◽  
pp. 137-150 ◽  
Author(s):  
Thomas R. Weirich ◽  
Norbert Tschakert ◽  
Stephen Kozlowski
Keyword(s):  
Data Visualization ◽  
Data Analytics ◽  
Data File ◽  
Student Feedback ◽  
Data Availability ◽  
Audit Planning ◽  
Visualization Software ◽  
Hands On ◽  
Data Visualizations ◽  
Data Analytic

ABSTRACT We present a case for teaching data analytics skills in auditing classes using the data visualization software Tableau. We use the Tableau-embedded data file “US Superstore,” which we edited to include cash receipts and discounts to provide a complete order to cash cycle. Students learn how to create data visualizations and dashboards, and how to apply them to audit-planning considerations. Students then perform substantive testing of the revenue (order to cash) cycle and identify issues in the data that relate to revenue. We propose that this case material can be tailored by instructors to fit their particular needs and course curriculum. This case provides students with hands-on exposure to data analytic and visualization capabilities. Student feedback was very favorable and student comments indicated that the case was practical, realistic, and informative, and provided them a better understanding of data visualization. Data Availability: For data availability, please contact the corresponding author.

A Framework for Auditor Data Literacy: A Normative Position

2020 ◽  
Author(s):  
Deniz Appelbaum ◽  
D. Scott Showalter ◽  
Ting (Sophia) Sun ◽  
Miklos A. Vasarhelyi
Keyword(s):  
Data Analytics ◽  
Business Environment ◽  
Current Data ◽  
Data Driven ◽  
Accounting Firms ◽  
Knowledge And Skills ◽  
Audit Data ◽  
Cpa Exam ◽  
Audit Standards ◽  
A Current

Due to the nature of the current data--driven business environment, many accounting firms are starting to re-align their audit processes to incorporate technology and Audit Data Analytics (ADA), as the traditional audit procedures would seem to not be sufficiently effective and efficient to meet evolving market expectations (Byrnes et al., 2018; Forbes 2017, 2018). This paper provides commentary on how data analytics knowledge should be required of the profession, in addition to that of traditional accounting. We discuss the current information-centric business environment, the availability of Big Data, and the existing data analytics efforts made by businesses, with its subsequent impact. Regarding the complementarity of available data analytics tools and data analytics knowledge, it proposes a guideline for the content and levels of ADA knowledge and skills that should be required of auditors serving in different roles. Finally, suggestions are provided to facilitate the adoption of ADA and provide solutions to challenges in the CPA exam, audit standards, and education. In this data-centric business environment, acquiring the knowledge and skills of data analysis should be a current professional priority.

scholarly journals Does Visualization Matter? The Role of Interactive Data Visualization to Make Sense of Information

2018 ◽  
Vol 22 ◽  
Author(s):  
Arif Perdana ◽  
Alastair Rob ◽  
Fiona Rohde
Keyword(s):  
Decision Making ◽  
Data Visualization ◽  
Financial Statement ◽  
Sense Making ◽  
Business Analytics ◽  
Theoretical Understanding ◽  
Nonprofessional Investors ◽  
Information Reporting ◽  
Interactive Data

As part of business analytics (BA) technologies, reporting and visualization play essential roles in mitigating users’ limitations (i.e., being inexperienced, having limited knowledge, and relying on simplified information). Reporting and visualization can potentially enhance users’ sense-making, thus permitting them to focus more on the information’s message rather than numerical analysis. To better understand the role of reporting and visualization in a contextualized environment, we investigate using interactive data visualization (IDV) within accounting. We aim to understand whether IDV can help enhance non-professional investors’ ability to make sense of foundational financial statement analyses. This study conducted an experiment using a sample of 324 nonprofessional investors. Our findings indicate that nonprofessional investors who use IDV are more heuristically adept than non-professional investors who use non-IDV. These findings enrich the theoretical understanding of business analytics’ use in accounting decision making. The results of this study also suggest several practical courses of action, such as promoting wider use of IDV and making affordable IDV more broadly available, particularly for non-professional investors.

Governing Proliferation Finance

2019 ◽  
Author(s):  
Grégoire Mallard
Keyword(s):  
United Nations ◽  
Financial Institutions ◽  
Security Council ◽  
United Nations Security Council ◽  
Nuclear Nonproliferation ◽  
Global Regulation ◽  
Nuclear Program ◽  
Global System ◽  
Financial Transactions

As the critical sanctions against Iran’s nuclear program demonstrate, the implementation of sanctions against nuclear proliferators has led to the creation of a global system of surveillance of the financial dealings of all states, banks, and individuals, fostered by United Nations Security Council resolutions—a new and unprecedented development. This chapter asks: Which actors have been in charge of designing and implementing sanctions against nuclear proliferators? Which legal technologies have they developed to regulate global financial transactions? Answering these questions generates a better understanding of key processes in global governance: the increasing role of the Security Council as a global legislator; the “financialization” of global regulation, with the increasing role played by international and US domestic financial institutions that were historically foreign to the field of nuclear nonproliferation; and the judicialization of the enforcement of sanctions, which is accompanied by the multiplication of secondary sanctions against sanctions-evaders.

Reducing misperceptions through news stories with data visualization: The role of readers’ prior knowledge and prior beliefs

Journalism ◽  
2021 ◽  
pp. 146488492110287
Author(s):  
Paul Mena
Keyword(s):  
Experimental Design ◽  
Prior Knowledge ◽  
Data Visualization ◽  
Accurate Information ◽  
Graphical Representations ◽  
Prior Beliefs ◽  
News Stories ◽  
Issue Involvement

Amid the global discussion on ways to fight misinformation, journalists have been writing stories with graphical representations of data to expose misperceptions and provide readers with more accurate information. Employing an experimental design, this study explored to what extent news stories correcting misperceptions are effective in reducing them when the stories include data visualization and how influential readers’ prior beliefs, issue involvement and prior knowledge may be in that context. The study found that the presence of data visualization in news articles correcting misperceptions significantly enhanced the reduction of misperceptions among news readers with less than average prior knowledge about an issue. In addition, it was found that prior beliefs had a significant effect on news readers’ misperceptions regardless of the presence or absence of data visualization. In this way, this research offers some support for the notion that data visualization may be useful to decrease misperceptions under certain circumstances.

Interactive Data Visualization in Jupyter Notebooks

2021 ◽  
Vol 23 (2) ◽  
pp. 99-106
Author(s):  
Jorge Piazentin Ono ◽  
Juliana Freire ◽  
Claudio T. Silva ◽  
Joao Comba ◽  
Kelly Gaither
Keyword(s):  
Data Visualization ◽  
Interactive Data

scholarly journals Big Data Analytics in urology: the story so far and the road ahead

2021 ◽  
Vol 13 ◽  
pp. 175628722199813
Author(s):  
B. M. Zeeshan Hameed ◽  
Aiswarya V. L. S. Dhavileswarapu ◽  
Nithesh Naik ◽  
Hadis Karimi ◽  
Padmaraj Hegde ◽  
...  
Keyword(s):  
Big Data ◽  
Data Analytics ◽  
Early Stage ◽  
Big Data Analytics ◽  
Positive Trend ◽  
The Road ◽  
Healthcare Data ◽  
Urological Disorders ◽  
Different Sources

Artificial intelligence (AI) has a proven record of application in the field of medicine and is used in various urological conditions such as oncology, urolithiasis, paediatric urology, urogynaecology, infertility and reconstruction. Data is the driving force of AI and the past decades have undoubtedly witnessed an upsurge in healthcare data. Urology is a specialty that has always been at the forefront of innovation and research and has rapidly embraced technologies to improve patient outcomes and experience. Advancements made in Big Data Analytics raised the expectations about the future of urology. This review aims to investigate the role of big data and its blend with AI for trends and use in urology. We explore the different sources of big data in urology and explicate their current and future applications. A positive trend has been exhibited by the advent and implementation of AI in urology with data available from several databases. The extensive use of big data for the diagnosis and treatment of urological disorders is still in its early stage and under validation. In future however, big data will no doubt play a major role in the management of urological conditions.

Sign in / Sign up

Export Citation Format

Share Document