From the course: The Future of Audit
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Automated data: Opportunities and risks
From the course: The Future of Audit
Automated data: Opportunities and risks
- In many ways, the future of audit will also be about the future of data, not just in the way that data will increasingly be a prevalent asset on many company's balance sheets, but also in the fact that many company operations involve a geometrically increasing volume of data. Data generation, data creation, data aggregation, all of that will continue to be important for businesses in the future as they tease value out of their data. As auditors, it will be important to parse the data to test it and to sample it. But as the volume of data increases, we also see the potential for data glitches as well as disinformation or maybe even intentional misinformation to make its way into large volumes of data. This means that auditors will need a better mouse trap to catch the better mouse. With all that data, there could be problems and there needs to be a way to incisively cut into the data to see if there might be problems that…
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