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Audit data analytics alert: Survey on ADAs in Canada – Results and implications

Find out the results of an important survey commissioned by CPA Canada to understand how Canadian auditors are using ADAs in performing financial statement audits.

Data analytics is getting more attention in the audit world. Auditors in Canada and elsewhere are facing an ever-changing marketplace where increased use of technology, including audit data analytics (ADAs), is likely to be vital to performing high-quality audits that meet the needs of modern-day information users.

Are Canadian auditors using ADAs? What factors are driving or impeding such use? These were two issues explored in a recent survey commissioned by CPA Canada. Findings from this survey may have significant implications for individual auditors, firms, and the Canadian auditing profession as a whole when making key decisions on how to integrate technology into financial statements audits.

This alert will:

  • provide background information on the survey
  • discuss survey results regarding the nature an
  • discuss survey results regarding factors driving or impeding use of ADAs
  • highlight possible implications of the survey results