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Exploring perceptions of data analytics in the internal audit function

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  • Fengchun Tang
  • Carolyn Strand Norman
  • Valaria P. Vendrzyk

Abstract

The objective of our study is to understand the use of data analytics within the internal audit function (IAF) and to investigate the types of tools internal auditors use, given the large amounts of data available to them for analytic purposes. We interview the Chief Audit Executive (CAE) in six for-profit and six not-for-profit organizations across several industries, including manufacturing, government services, energy, banking, and higher education. Our intent was to gather descriptive information with respect to the IAF, as well as quantifiable responses to specific questions about the role of data analytics in each CAE’s IAF. Our findings indicate that CAEs value professional certifications and the use of data analytics in the IAF. CAEs report that they employ data analytics at different times and for different purposes and that they are dedicating a considerable amount of the IAF budget in support of data analytics. Our findings should be of interest to CAEs as they consider various possible tools and training to support data analytics within their organisations and to academics who wish to include data analytics courses or topics in the accounting and information systems curricula to prepare students for the workplace.

Suggested Citation

  • Fengchun Tang & Carolyn Strand Norman & Valaria P. Vendrzyk, 2017. "Exploring perceptions of data analytics in the internal audit function," Behaviour and Information Technology, Taylor & Francis Journals, vol. 36(11), pages 1125-1136, November.
    • Handle: RePEc:taf:tbitxx:v:36:y:2017:i:11:p:1125-1136
    DOI: 10.1080/0144929X.2017.1355014
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    Cited by:

    1. Xiong Wang & Fernando A. F. Ferreira & Pengyu Yan, 2024. "A multi-objective competency-based decision support system for the assignment of internal auditors to multiple projects," Annals of Operations Research, Springer, vol. 338(1), pages 303-334, July.
    2. Jean Robert Kala Kamdjoug & Hyacinthe Djanan Sando & Jules Raymond Kala & Arielle Ornela Ndassi Teutio & Sunil Tiwari & Samuel Fosso Wamba, 2024. "Data analytics-based auditing: a case study of fraud detection in the banking context," Annals of Operations Research, Springer, vol. 340(2), pages 1161-1188, September.

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