This thought leadership initiative outlines the opportunities and risks for accountants from new and advanced capabilities in data, and highlights practical examples of how the profession is changing as a result of big data and analytics.
Join Mark Taylor and Kirstin Gillon of ICAEW, and Anthony Sayce FCA of EY, for the fourth in our series of Tech Faculty ‘Tech Talks’, this time on the subject of data and the opportunities it presents for practice and business.
The ICAEW Data Analytics community will give you access to a curated programme of digital learning, use cases, subject matter experts and community resources covering all the essential aspects of data analytics. Free to join.
Data – how you get it and what you do with it – has been an important part of the accountant’s role since the beginning; but it is only now, with data exploding in volume, variety and velocity, that accountants can start to add serious value to their business and that of their clients. As the guide says, ‘data analytics can broadly be defined as the use of data to support business decisions’.
This guide is designed to help alleviate some of the fears that lie behind the inertia on data analytics. There is information about how to get started using the resources you already have or to find out about others, and case studies to show how using data analytics has helped some practices already.
ICAEW Data Analytics Certificate programme will help you combine your commercial acumen and business knowledge with data analytics expertise.
Features and articles
In a recent ‘Power Tools Part 2: Harness the potential of Power BI’ webinar, Monica Odysseos explored the fundamentals of Power BI, including loading data and understanding its structure. Monica returns to answer some questions from the webinar she was unable to respond to during the session.
Low levels of cyber expertise among board members and an overt deference towards jargon-focused CISOs cited as key vulnerabilities in corporate governance.
Mitigo highlight why senior leaders must take responsibility for their cyber risk management to counter a growing threat.
Based in Kuala Lumpur, Malaysia, Junaidy Ab-Mutalib has global reach. He outlines the benefits of volunteering for ICAEW wherever you are in the world.
Webinars and recordings
Discover the power of Power BI as we embark on a journey of data visualisation and analysis.
Leverage forecasting and reporting to streamline production and delivery of management information whilst evolving client relationships. A webinar brought to you in partnership with Futrli.
This webinar from the Internal Audit Community will give members an overview of the fundamental principles around the use of analytics in internal audit.
The tools available in Xero to help understand your clients cash flow position.
Disclaimer: The opinions expressed by external guest speakers in interviews or other publications included on this website are, by their nature, those of the speaker. They are not necessarily fully endorsed by the ICAEW or purport to reflect the official policies and views of the ICAEW or its members.
A snapshot of the steps being taken by audit firms to better facilitate fraud deterrence and detection.
Data analytics allows firms to harness data, both internal and external, to provide faster, deeper analysis for better decision-making. These tools offer accountants the ability to track client performance at a more granular level and identify ways to build in efficiencies.
Reduce the risk that your spreadsheet gives you the wrong answer.
The Library & Information Service provides a hand-picked collection of eBooks as a benefit of membership. If you are unable to access an eBook, please see our Help and support or contact email@example.com
The first of a two-volume series covering Python, a general-purpose programming language, for accounting and business tasks. This volume covers the concepts of Python and select foundational libraries using examples, codes, and accompanying outputs. Examples are tailored to accounting and business use-cases.
Includes examples and case studies that teach users the tricks for analysing data in Excel.
For those new to data analysis. Takes the reader on a tour of Excel's data analysis tools.
Large corporations like IBM and Oracle are using Excel dashboards and reports as a Business Intelligence tool, and many other smaller businesses are looking to these tools in order to cut costs for budgetary reasons.
This book delivers a powerful analysis of the new technological forces buffeting the accounting profession. Using case studies and practical examples, the author demonstrates how big data, blockchain, robotic process automation and artificial intelligence can help accountants adapt to new realities.
This book will help accountants and financial managers better understand big data and analytics, including its history and current trends. It dives into the platforms and operating tools that will help you measure program impacts and ROI, visualize data and business processes, and uncover the relationship between key performance indicators.
This book hopes to provide the reader with an inventory of basic algorithms which can be easily expanded and customized to fit an auditor's specific challenges. Accessible and comprehensive tools for these additional approaches are covered in this book, as are research approaches to take advantage of the additional explanatory power that these approaches offer to auditing. Coverage of software, methodologies, and fit statistics provide a concise reference for the conduct of audits, helping assure that audit opinions and decisions are defensible, fair, and accurate.
This book takes a thoughtful look at how the digital finance industry is evolving. It explains how to integrate digital finance concepts into existing traditional finance platforms and explores what successful companies are doing to maximize their opportunities in this context.
The article focuses on data classification as a pre-requisite for data protection, security, and compliance, and it explores the tools available for data classification, including offerings from major tech companies as well as open-source options. It mentions these tools use machine learning and artificial intelligence to automate data classification, ensuring accurate data management and governance.
Article discusses how Ai-driven decisions have led to discrimination against women and minorities in recruitment, criminal sentencing, medical diagnosis and credit approval and led to thousand of fines under GDPR. An overview of a robust ethical review is given and the 'Five Ps of ethical data handling'
Article explains that descriptive analytics is the process of analysing data to find trends and patterns that support decision-making, monitoring, and other initiatives. It's the most fundamental building block of data analytics.
The article discusses the need for finance leaders to recognize the importance of data analytics to become effective in their roles. The need to ensure that employees work in a culture that sustains collaboration and exchange of ideas and information by leaders is noted. It discusses ways in which management accountants can demonstrate leadership such as competence in financial planning and imparting technical accounting knowledge.
The article explains why data classification is vital to organisations. Topics discussed include tracking of information based on its sensitivity and confidentiality, key elements of a data classification policy, and compliance with regulations such as the General Data Protection Regulation (GDPR). Also mentioned are the basic principles of data management, namely confidentiality, integrity, and access.
Algorithms define the rules, conditions, and methodology that an Artificial Intelligence will use when processing and analysing data. The article explains how they work and looks at the different types.
Provided by Tibco this textbook offers support on the application of statistics and data mining. It covers a variety of applications, including: business statistics, credit scoring, forecasting and survey research, data mining and quality control.
Case studies of the use of analytics, searchable by industry, application, benefit or function
This discussion paper looks at the implications of big data, artificial intelligence (AI) and machine learning for data protection, and explains the ICO’s views on these.
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