A Principle-based Framework for Audit Analytics Implementation
M.G. Ramadhan (TU Delft - Information and Communication Technology)
M.F.W.H.A. Janssen – Promotor (TU Delft - Information and Communication Technology)
HG Van Der Voort – Copromotor (TU Delft - Organisation & Governance)
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Abstract
Audit analytics (AA) enables the improvement of the effectiveness and efficiency of the internal audit function (IAF). In this research, we follow Lambrecht et al.’s (2011, p.3) and define AA as “the process of identifying, gathering, validating, analyzing, and interpreting data using information and communication technology to further the purpose and mission of internal auditing”. AA is an umbrella term encompassing various forms of technology-based audit approaches, from continuous auditing to advanced machine learning. Due to the increased effectiveness and efficiency, AA enables the IAF to provide proactive and ongoing assurance services instead of periodic assessment, expand the (internal) audit service areas with the same resources, enable larger samples or even the whole population for analysis, and can provide insight and foresight for its stakeholders, in addition to the hindsight of the (possibly) already occurred risks...
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