Work is greatly influenced by technology. During many audits, data analysis tools are used to effectively and efficiently look at the enormous amounts of data available. These analytical tools provide the auditor with the ability to examine data and gain greater insight into businesses. In addition, these analytical tools can be used for reconciliations, fraud investigations, and consulting services.
The data can be used to determine unusual patterns and exceptions in a large data set. Investigations of these unusual items may uncover fraud or abuse. Results of these analytical procedures are communicated and improvements in procedures are suggested.
Data analysis is used in a variety of services, not only in audits. It helps to ensure data is consistent, reliable, and supports decision making. Are you concerned about your financial data? Are there concerns of fraud or abuse? Do you feel comfortable about your data but want to make sure there are no unusual transactions? Feel free to contact us to discuss these issues and learn more about the possibilities of data analysis. Posted by/Andrea Paezold-Ruehl
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