Effect of Big Data Analytics on Audit Evidence

The purpose of this study is to determine the effect of the application of big data analytics (BDA) on audit evidence. A descriptive/cross sectional survey design was adopted while random sampling was used to distribute 514 structured questionnaires drawn on four Likert scale to auditors in private...

Full description

Bibliographic Details
Main Authors: Joshua Adewale ADEJUWON, Amos Olusola AKINOLA
Format: Article
Language:English
Published: Chamber of Financial Auditors of Romania 2023-02-01
Series:Audit Financiar
Subjects:
Online Access:http://revista.cafr.ro/temp/Article_9719.pdf
Description
Summary:The purpose of this study is to determine the effect of the application of big data analytics (BDA) on audit evidence. A descriptive/cross sectional survey design was adopted while random sampling was used to distribute 514 structured questionnaires drawn on four Likert scale to auditors in private practice in South-West, Nigeria. 362 copies of the questionnaire were validly returned and successfully tested for reliability and validity. These were analysed using regression analysis and the results revealed that all elements of audit evidence considered – control tests, sufficiency, assertions on financial statements and relevance/reliability – were positively and significantly affected by the application of BDA. The study recommends that audit firms of all tiers should embrace the application of BDA in sourcing for audit evidence and that, as a matter of urgency, standard setting boards should consider issuing a standard to drive the process.
ISSN:1583-5812
1844-8801