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.
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
5 January 2021: Training and skillsets have topped the list of concerns of respondents to an FRC consultation on the use of technology to enhance audit quality
This article will take you through how to build a line chart and over the next few in the series will add increasing sophistication.
New features have been released across Microsoft 365 (formerly Office 365) & other business apps, here is our quarterly digest in written, gif, image & video format.
Even the smallest of firms can benefit from applying common data modelling to audit processes, says Shamus Rae.
The growth of computer power, and rise of automation and artificial intelligence will increasingly affect analytical tasks. Accountants will need to find new ways to add value in response.
Some deeper questions about our use of big data and analytics and how it can influence society.
While there are lots of ways in which accountants are making use of new capabilities in data and analytics, we need to recognise a number of practical barriers and challenges.
Webinars and recordings
Power Pivot is freely available in Excel, but is often overlooked. But the powerful add-in can supercharge your PivotTables, allowing more nuanced and detailed calculations and summaries than ever before.
Technology is transforming audit.
Power BI Desktop is a free application that can turn financial data into animated and interactive visualisations.
These guidance notes explain how to use the key elements of the audit data analytics software (the software) that will be a part of the Audit and Assurance exam.
Download the full Inflo online evaluation report.
A guide to the developments, opportunities and challenges that data analytics provides for auditors.
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 firstname.lastname@example.org
This book takes a thoughtful look at how the industry is evolving, and it explains how to integrate concepts of digital finance into existing traditional finance platforms. It explores what successful companies are doing to maximize their opportunities in this context and offers suggestions on how to introduce digital finance into a firm's structure. Specific strategies for a digital future are presented, alongside numerous case studies that explore key attributes of success.
This book walks the reader through the wrangling process by exploring several factors-time, granularity, scope, and structure-that you need to consider as you begin to work with data.
A must-have guide to creating a robust data strategy. Explaining how to identify your strategic data needs, what methods to use to collect the data and, most importantly, how to translate your data into organizational insights for improved business decision-making and performance, this is essential reading for anyone aiming to leverage the value of their business data and gain competitive advantage.
Chapter 10 of this title deals with: data ownership and privacy; data security; best practice in data governance.
This fifth edition of this title covers all areas in the various valuation approaches, methods, and techniques in an easy-to-read style.
This book provides visualization methods that will help you navigate today's cluttered landscape of financial markets. It starts with a review of current, commonly used methods for communicating financial data and then offers methods to refine or enhance them, or create new types of visualisations that are easy to use, elegant, and that facilitate better decision-making. Many break with today's common practices for communicating data, but improve efficiency and clarity.
Offers an in-depth insight into how specific companies use big data.
Provides an essential guide to how visualization works. It will help you turn plain, uninspiring charts that merely present information into smart, effective visualizations that powerfully convey ideas.
The Library & Information Service provides a hand-picked collection of industry press articles as a benefit of membership. If you are unable to access an article, please see our Help and support or contact email@example.com
The article examines the possible effects of data bias in analytical models on the implementation by organizations and businesses of their diversity and inclusion programs. Also cited are the key role played by finance, accounting and corporate professionals in preventing the use of data bias in decision making, the data life cycle process, and ways to minimize data error or bias.
The article discusses the importance for management accountants and finance professionals to learn about data visualization, its application to finance, as well as the tools and skills needed for its utilization to effectively transition to their role as strategic advisor in business.
The article discusses that the unified file and object storage tackles growing volumes of unstructured data in a way that is compatible with traditional and cloud-era applications and friendlier to analytics.
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.
This guide, from the Fraud Prevention Panel, provides an overview of the common methods of data mining and analytics and explains how you can use them to guard against fraud.
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