How Big Data and Analytics are transforming the audit?

Question

Could someone tell me how Big Data and Analytics are transforming the audit?

Answer 1

Big Data and Analytics is transforming nearly every industry. Because every company needs actionable insights to push forward, and drive their growth. Even the Audit industry is transforming itself in the wake of the Big Data and Analytics boom. There are several benefits by implementing the technology, in the Auditing industry and they are:

• Optimization of the whole of the Auditing process.
• With continuous integration of data, and analysis, the frequency of the Auditing has shifted itself from very few auditing to frequent auditing.
• Improved Client-relations due to frequent communication relating to the threats, and opportunities, which could be discussed before-hand, aiding in better decision-making.

And many more points relating chip in to enhance the whole process of Auditing. If you wish to learn more about Big Data and Analytics, I would recommend you to check out the Data Analytics Certification, from Intellipaat. this industry-grade course offers you the required instructor-led training and guided projects to enhance your practical experience. Also, watch the following YouTube video on Data Analytics for Beginners to get yourself started.