Impact of data analytics on reporting quality of forensic audit: a study focus in Malaysian auditors

Abstract

The primary objective of this research is to study the impact of data analytics on reporting quality of forensic audit, a study focussed on auditors in Malaysia. In this research, the researcher intends to discover the impact caused by emerging technology, in particular the data analytics, in audit profession, as audit field is the most complex field where tremendous volume of data, and research is conducted to investigate a certain situation, to report findings. The researcher uses the primary method to conduct the data. In this research, four different variables that causes impact to data analytics usage in forensic audit reporting quality, are tested. The data was collected from forensic audit and accounting service providers, operating around Malaysia. To analyse the findings, statistical tool, Statistical Package of the Social Sciences (SPSS) is used, to further analyse the responses, and to derive at a conclusion relating to impact of data analytics to reporting quality of forensic audits. The findings discovered that all the variables have significant relationship with the data analytics and its impact to the forensic audit reporting quality, among forensic auditors and practitioners in Malaysia. The conclusion has been discussed in this research which caters for and provides confidence and data privacy, for users of data analytic tools for their forensic audit work. This research creates the awareness of the use of data analytics in order to assist forensic auditors in their routine data gathering and analysis, in preparing reports, statistics and trend analysis etc, by saving their efforts and time, to focus more on performing further analysis and findings based on case or audit assignment.