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The Impact of Big Data Analytics and Innovative Information Technologies on Audit Quality
Yaremyk M. I., Yaremyk K. Y.

Yaremyk, Myroslav I., and Yaremyk, Khrystyna Ya. (2021) “The Impact of Big Data Analytics and Innovative Information Technologies on Audit Quality.” Business Inform 5:302–307.
https://doi.org/10.32983/2222-4459-2021-5-302-307

Section: Accounting and Auditing

Article is written in Ukrainian
Downloads/views: 5

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UDC 657.6+004.6

Abstract:
The article is aimed at examining and systematizing the factors influencing innovative information technologies on the auditor’s professional judgment, efficiency and quality of audit, as well as studying the impact of big data analytics on the skills and competence required by auditors to conduct an audit in a big data environment. The state of use of data analytics instruments in auditing is characterized. Based on the analysis of the views of scientists, experts and practicing auditors, the main tasks of the audit are systematized, in which the effective use of big data analytics is possible, among which the following are distinguished: assessment of continuity of the enterprise’s activities along with bankruptcy forecasting; detection of financial fraud and assessment of the effectiveness of control; use of visualization dashboards to form a professional judgment of the auditor on the scope of control, the uniformity of the the sample set and size, the threshold of materiality. The main factors that hinder the use of big data analytics in the audit are highlighted, namely: inconsistency in assessing the reliability and accuracy of data in the sets; ensuring the confidentiality and integrity of the client’s data; uncertainty about several methodological bases of the audit, in particular sampling-based testing, as well as the lack of skills and competencies among auditors regarding the use of big data analytics instruments. Prospects for further research in this direction are to identify the possibility of eliminating inconsistencies in the use of big data at the level of standards, as well as to improve educational and professional training programs for accounting and audit specialists with a focus on obtaining skills in working with big data.

Keywords: big data, big data analytics, audit quality, audit procedures, auditor’s professional judgment, auditor’s skills and competence.

Fig.: 1. Bibl.: 17.

Yaremyk Myroslav I. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Financial and Economic Security, Accounting and Taxation, Ukrainian Academy of Printing (19 Pіd Holoskom Str., Lvіv, 79020, Ukraine)
Email: [email protected]
Yaremyk Khrystyna Ya. – Candidate of Sciences (Economics), Associate Professor, Department of Financial and Economic Security, Accounting and Taxation, Ukrainian Academy of Printing (19 Pіd Holoskom Str., Lvіv, 79020, Ukraine)
Email: [email protected]

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