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CPA Canada event highlights data analytics’ growing importance for auditors
Audit data analytics (ADA) has the potential to significantly enhance the insights auditors can gain when performing testing. That was the theme of a well-attended free webinar hosted by Chartered Professional Accountants of Canada (CPA Canada) for its international members on April 26.
The webinar was titled “Introduction to Audit Data Analytics” and was led by Garth Sheriff, a Canadian CPA who specializes in the delivery of professional and leadership skills webinars and online courses.
“Traditionally, auditors have used analytic procedures such as means, modes, and variance analysis, which are collectively referred to as ‘summary statistics’,” explained Janet Treasure, Senior Vice President, External Relations and Business Development, CPA Canada. “At our webinar, participants soon discovered that audit data analytics are much more than summary statistics and open up entirely new ways to collect, use and present information.”
Participants valued the information presented.
“The use of data analytics gives auditors whole new avenues to measure and learn about an organization’s overall performance,” said Karen Watson, Chair of the CPA Canada Cayman Islands Chapter Advisory Council. “Greater efficiency along with increased insights will be among the key benefits that emerge going forward.”
In total, more than 250 CPAs from over 16 countries, participated in the event.
