AUDITING IN BIG DATA ERA
Keywords:
Big Data, AuditingAbstract
A prevailing big challenge encountered by auditors in the era of Big Data for a successful audit is to investigate the means to benefit for applying Big Data systematically. Hence, the purpose of this paper is to prepare professional practitioners including all parties involved in meet the emerging change in audit. It covers the following topics: basic knowledge in Big Data, definition of Big Data in the context of audit, application of data analytics in audit work, and suggestion for guideline of effective integration of Big Data into auditing. Generally, three parties should be involved in the integration of Big Data into audit work: audit firm’s clients, audit firms, and external supporting organizations. The latter encompass educational institutions and professional organizations. In order to drive the integration guideline efficiently, two major factors should be considered. One consideration is related to analysis of the level of the effect on auditing from using the clients’ Big Data in their operations. In addition, the appropriate roles and duties of the supporting organization should be considered.
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