![]() Specifically, the focus will not be on auditing and accounting standards and their current required procedures, but rather on what the profession can progressively achieve with data analytics. This article aims at introducing basic data analysis concepts to enable accounting professionals to understand how to navigate within this new environment. The advent of inexpensive computational power and storage, as well as the progressive computerization of organizational systems, is creating a new environment in which accountants and auditors must practice. The authors introduce the process, with a review of some emerging approaches and compilation of useful resources for auditors new to the topic. Data analysis can enable auditors to focus on outliers and exceptions, identifying the riskiest areas of the audit. ![]() ![]() Technology has transformed business processes and created a wealth of data that can be leveraged by accountants and auditors with the requisite mindset.
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