Unlocking the Power of Analytics in Audit
In an environment with increasingly complex and high-volume data, the use of technology and data analytics allows auditors to gain a deeper understanding of an entity to enhance the quality of an audit.
Using analytics improves audit efficiency by facilitating the performance of tedious tasks, freeing the auditor to focus on risk areas more effectively. The increasing use of analytics is also largely driven by stakeholders’ expectations. In many jurisdictions, including Singapore, auditors are expected to use technology, particularly data analytics, when performing audits.
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