accounting paper
Topic: benefits of leveraging data analytics for internal audits
Thesis: There are three benefits of leveraging data analytics for internal audits and the benefits are creating value, reducing risk and improving the efficiency.
· Create value
1. Turn the opinions into the advantages of competition
2. Improve the return of investment(net profit/cost of investment)
· Reduce risk
1. Fewer mistakes and fewer wrong results
2. Response to manage the mistakes and risk of investment immediately
· Improve the efficiency
1. Reduce the cost of the unnecessary investment
2. Easy to see which part is earn money and which part is lost money
Reference:
1. Current issues in auditing. 2007. Sarasota, FL: American Accounting Association. http://aaapubs.aip.org/cia/.
2. Institute of Internal Auditors. 1944. The Internal auditor: journal of the Institute of Internal Auditors. [New York, N.Y.]: [Institute of Internal Auditors].