Are Auditors Ready for Big Data as new knowledge? Evidence from USA".
Ref. No. SSTCRC036
Background:
The aim of this study is to examine the level of readiness and maturity auditors have achieved in terms of big data in auditing the financial statements in USA. The study tries to answer the following question: are auditors working in USA ready to deal and concern with big data in different levels of auditing process?
This study discusses the following: The majority of prior studies discus the relationship between big data and auditing from theoretical perspective but in this study more focus will give to the empirical evidence about this relationship. In this regard, this study response to the call of Gepp et al., (2018) who call for more research to further align theory and practice in the area of auditing and big data.
Big data involves in all stages of auditing, audit evidence, audit process, audit analytical, audit risk, audit litigation and audit opinion. Additionally, auditing is dealing with data which is the core of these two fields and therefore the relationship between auditing and big data is highly expected. Big data represents new sets of data with more focus on vital features of data such as volume, variety, velocity, veracity and validity which become accessible and need to increase the credibility of these data. Big data is a new knowledge for the auditor, and they should deal with it practically.
Research Progress:
1- The Theory aspects (90% completed)
2- The literature Review (in process)
3- The practical aspects (not yet start)
Cooperation Needs:
1- Data collection,
2- Data processing
3- Data analysis
4- Publishing the work
Benefits:
1- The project will help the external auditors in using big data in auding process.
2- The project will help the internal auditor to coordinate with external auditing to facilitate using big data in the auditing process.
3- The project will improve the auditor report and audit quality.
4- The project will guide the auditors to involve big data in audit process.
Outputs:
The following outputs are expected:
- At least two academic papers
Other proposal:
1- Provide more projects in the same field.
2- Provide new technologies for teaching and learning
3- Create MoU for collaboration with the university of the researchers.