Beyond the Numbers: Exploring the Multifaceted Impact of Big Data Analytics on Auditing
Nasta, Luigi
Magnanelli, Barbara Sveva Alessi, Giacomo
Alessi, Giacomo
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Abstract
This article investigates the impact of implementing big data analytics in external auditing firms on audit quality, focusing on effectiveness, efficiency, and risk. A survey with 123 auditors collected quantitative data on the benefits and drawbacks of big data analytics in auditing. Big data analytics implementation improves audit efficiency and effectiveness, but the impact on audit risk varies. Integrating big data analytics enhances audit effectiveness and efficiency, enabling auditors to prioritise value-added tasks and gain a better understanding of audited organisations. This study is pioneering in that it investigates the components of audit quality - effectiveness, efficiency, and risk - individually within a single research endeavour. The segmented analysis based on the size of the auditors' engagement portfolios adds a unique dimension to the study. Auditors' engagement portfolio size affects the impact of technology adoption, crucial for firms' technology roll-out planning.
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Date
2024
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Keywords
Audit quality, Technology, Audit efficiency, Audit effectiveness, Audit risk, Big data, Data analytics
Citation
Nasta, Luigi, Barbara Sveva Magnanelli, and G. Alessi “Beyond the Numbers: Exploring the Multifaceted Impact of Big Data Analytics on Auditing.” International Journal of Auditing Technology 5 (1): 40–58. 2024.