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Lessons learned: Audit Data Analytics tips

Don’t step any closer to audit data analytics without reading these tips and insights from Lisa Leighton of BHP Chartered Accountants.

A live poll during a recent faculty webinar indicated a roughly 50/50 split between those using and not using data analytics in audit, with many of the non-users citing cost as their reason. Just 5.8% of the webinar attendees are using data analytics in all of their audits.

Nonetheless, firms that are thinking about using data analytics in audit, embarking on an installation, or planning one, may benefit from the implementation experiences of Kreston UK firms. So in the words of Cher, if we were to turn back time, here are the top 10 things we would want to know before we started our journey.