Audit Data Analytics (2)

Question 1

How auditors might use data analytics (patterns)

Answer 1

Analyse patterns relating to revenue or costs per product or per customer

Question 2

How auditors might use data analytics (orders goods despatched/received)

Answer 2

Trace the matching of orders to goods desptached/goods received documentation and to invoice, determining whether revenue and costs should be recognised

Question 3

How auditors might use data analytics (interrogate hournal patterns)

Answer 3

Interrogate journals to determne whether there are any patterns (regarding who has processed certain journals) where fraud is suspected