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.

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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