Introduction to audit data analytics (2.0 hrs)
How audit data analytics (ADA) can be a game changer for our profession. (2 hrs CPE/CPD)
This introductory on-demand course will examine how auditors traditionally use analytic procedures such as means, modes, and variance analysis. Collectively these traditional techniques are referred to as summary statistics. However, audit data analytics are much more than summary statistics. We will define and explore the term "audit data analytics" or ADAs. We will then walk-through ADAs' application, including data visualization techniques using custom programmed software.
The application of the ADAs has the potential to be a transformative change to how auditors perform testing. The change is analogous to Major League Baseball's journey to embracing data analytics to help make decisions captured in the book and film Moneyball. This video aims to help auditors move into a data analytics mindset to unlock the opportunities of integrating ADAs into an audit engagement.
The learning objectives of this course include:
- Defining audit data analytics (ADA)
- Guiding the profession into the audit data analytic mindset
- Applying ADAs, including data visualization, through a customized software walkthrough
- Exploring the future of ADAs for the audit profession
- Identifying the benefits and challenges of using ADAs
2.0 hrs of verifiable CPD (Certificate will be provided upon course completion)
- Program pre-requisites: There are no prerequisites for this course
- Advance preparation: None
- Delivery method: E-learning
- CPD/CPE credits: Participants will earn 2.0 professional development credits (hours)
PreviewCourse instructions and learning objectives
StartWhat is audit data analytics (ADA) - Definitions (6:56)
StartWhat is ADA - Debrief of CM01 (8:32)
StartADA and the Canadian Auditing Standards (4:07)
StartADA Walkthrough - Audit Analyzer (20:13)
StartInterview with Michael Thomas (20:55)
StartBenefits and challenges of ADA (11:03)
StartThe ADA Mindset and SMART goals (10:17)
StartQualified assessment of learning objectives
Garth Sheriff, CPA, CA, CPA (Illinois), CIA, MAcc, is the founder of Sheriff Consulting (sheriffconsulting.com). We specialize in the design and delivery of assurance, accounting, and soft skill professional development courses. Sheriff Consulting strives to create a learning environment that is engaging, interactive, and effective.
Our courses are designed using the latest in communication research and current technical developments that affect our profession. This includes:
- Helping professionals navigate the most significant changes to the accounting and assurance standards in the last 40 years.
- Using current research to improve business communication skills such as working with diverse multigenerational teams.
- Understanding how transformative technology such as Blockchain and Artificial Intelligence will impact our profession.
Garth has worked as an assurance professional and learning provider for over 15 years.He has prepared and trained CPAs for key changes to the profession, including internal control documentation (SOX), Canadian Auditing Standards (CAS) and Canadian Standards on Review Engagements 2400 (CSRE 2400).
He earned a Master of Accounting and a Bachelor of Arts (Honours - Accounting) from the University of Waterloo, Canada. He is a member of the Chartered Professional Accountants of Ontario (CPAO), American Institute of Certified Public Accountants (AICPA) and the Institute of Internal Auditors (IIA).
Garth has also acted in various stage and film productions. He is a graduate in improvisation from The Second City and a member of ACTRA (the Alliance of Canadian Cinema, Television and Radio Artists