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An Investigation on how the use of Big Data Analytics is impacting Auditing and reshaping the Audit Profession

Gamukama, Prima LU and Shaukat, Shizah LU (2020) BUSN79 20201
Department of Business Administration
Abstract
Purpose
The thesis examines the use of Big Data Analytics by audit firms. The purpose of the study is to establish the impact of this new audit technology in practice. Three research questions are developed. The first question investigates how BDA is impacting the audit process. The second research question analyses how the use of BDA is affecting the application of professional judgement by auditors. Lastly, the third question addresses how the use of BDA is reshaping the audit profession and whether BDA use could result in de-professionalization of auditing.
Methodology
This study follows a qualitative research approach involving a multiple case-study.
Theoretical framework
The theoretical framework of this paper is built on... (More)
Purpose
The thesis examines the use of Big Data Analytics by audit firms. The purpose of the study is to establish the impact of this new audit technology in practice. Three research questions are developed. The first question investigates how BDA is impacting the audit process. The second research question analyses how the use of BDA is affecting the application of professional judgement by auditors. Lastly, the third question addresses how the use of BDA is reshaping the audit profession and whether BDA use could result in de-professionalization of auditing.
Methodology
This study follows a qualitative research approach involving a multiple case-study.
Theoretical framework
The theoretical framework of this paper is built on existing literature on the use of Big Data Analytics by audit firms, the audit process and the audit profession. Empirical foundation
The empirical perspective is derived from eight semi-structured interviews from two case companies. Results are complemented with secondary data such as official websites and relevant YouTube channels.
Conclusion
The use of BDA impacts the audit process by increasing the audit efficiency and effectiveness through fostering decision making and enabling higher levels of real time assurance to be provided to audit clients. The use of BDA will not impair the application of the auditor’s professional judgement since core aspects of the profession will remain unchanged regardless of the evolving technologies. Lastly, the profession will not be de-professionalized but reshaped in line with advancements in audit tools. (Less)
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author
Gamukama, Prima LU and Shaukat, Shizah LU
supervisor
organization
course
BUSN79 20201
year
type
H1 - Master's Degree (One Year)
subject
keywords
Big Data Analytics, Audit process, Audit profession, Professional Judgement, Deprofessionalization
language
English
id
9016913
date added to LUP
2020-08-21 14:04:31
date last changed
2020-08-21 14:04:31
@misc{9016913,
  abstract     = {{Purpose
The thesis examines the use of Big Data Analytics by audit firms. The purpose of the study is to establish the impact of this new audit technology in practice. Three research questions are developed. The first question investigates how BDA is impacting the audit process. The second research question analyses how the use of BDA is affecting the application of professional judgement by auditors. Lastly, the third question addresses how the use of BDA is reshaping the audit profession and whether BDA use could result in de-professionalization of auditing.
Methodology
This study follows a qualitative research approach involving a multiple case-study. 
Theoretical framework
The theoretical framework of this paper is built on existing literature on the use of Big Data Analytics by audit firms, the audit process and the audit profession. Empirical foundation
The empirical perspective is derived from eight semi-structured interviews from two case companies. Results are complemented with secondary data such as official websites and relevant YouTube channels. 
Conclusion
The use of BDA impacts the audit process by increasing the audit efficiency and effectiveness through fostering decision making and enabling higher levels of real time assurance to be provided to audit clients. The use of BDA will not impair the application of the auditor’s professional judgement since core aspects of the profession will remain unchanged regardless of the evolving technologies. Lastly, the profession will not be de-professionalized but reshaped in line with advancements in audit tools.}},
  author       = {{Gamukama, Prima and Shaukat, Shizah}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{An Investigation on how the use of Big Data Analytics is impacting Auditing and reshaping the Audit Profession}},
  year         = {{2020}},
}