Title: Continuous internal auditing: can big data analytics help?

Authors: Prem Lal Joshi; Govindan Marthandan

Addresses: Faculty of Management, Multimedia University, Cyberjaya, 63100, Malaysia ' Faculty of Management, Multimedia University, Cyberjaya, 63100, Malaysia

Abstract: This paper considers the underlying procedures in big data and its various analytical tools which accountants and auditors may have to use in internal and continuous auditing. It describes the nature and characteristics of big data, distinguishes between traditional, continuous auditing and continuous monitoring, importance of data analytics for internal auditors, applications of big data and audit data analytics. It further discusses benefits of big data analytics (BDA), concerns and challenges which are likely to affect the auditors deeply but do not yet have perfect solutions. As there has been a big hype about BDA and auditors claim that BDA is the future, auditors need to reshape their talent, professional qualifications, skills, and competencies in order to meet the emerging technological challenges. At the end, the paper suggests the need for updating the accounting curriculum at the university and professional accounting bodies levels and also gives direction for future research.

Keywords: big data; analytics; internal auditing; continuous auditing; big data characteristics; benefits; concerns and challenges; curriculum; risk assessment.

DOI: 10.1504/IJAAPE.2020.106766

International Journal of Accounting, Auditing and Performance Evaluation, 2020 Vol.16 No.1, pp.25 - 42

Received: 05 Dec 2018
Accepted: 30 Oct 2019
Published online: 20 Apr 2020 *

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