Ming Hu

For me, the faker is the worst type from auditee’s perspective. Honesty is a key ingredient to have integrity in the audit process to ensure its accuracy, truthfulness and completeness, and auditors are expected to give an unbiased and honest professional opinion, which must be based on an honest evaluation of the facts and circumstances. Any u…[Read more]

Firstly, I have to admit it that both are very important, if I have to pick one, that must be impact on the enterprise. No need to mention how fast technology changes currently and how significantly technology is transforming business. Although depth of knowledge in technology is vital for the organization to gain competitive edge in market, since…[Read more]

I believe that two advantages of “Millennial” generation is that they’re more adaptive and familiar with technology, especially in such a technological revolution century. As the first generation to have been raised with personal computers and smartphones, growing up with technology, this generation of young professionals are adaptive and dig…[Read more]

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Python vs R, a general question for many beginners, but choosing the tools should never be the primary problem, what you want to handle with by using such a tool should be your first consideration. As you stated, you want to build your ability to code, I would also suggest Python. Python, being a more general-purpose language, is great for…[Read more]

Great post. I believe data analytics can be an incredibly powerful tool for auditors. Advances in data science can be applied to perform more effective audits. Audit data analytics methods can be used in audit planning and in procedures to identify and assess risk by analyzing data to identify patterns, correlations, and fluctuations from models.…[Read more]

Nice post Priya, apart from what you mentioned, I believe that the adaptability is also one essential part of a successful fraud investigation. After making a plan, and then you make sure the plan is carried out. You will almost certainly have to change the plan as you go along. Perhaps an even better analogy is a military campaign, as in war,…[Read more]

I like your article Yu Ming. In light of the fact that attacks are increasingly evolved and sophisticated, the reality is there is no longer a one size fits all approach to security. To defend against the modern cyber threat, organizations need a multiple-faced approach, and not to fall into the trap of implementing one measure. Those automated…[Read more]

Nice post, I like you mentioned “knowing the audience”. The true value hides behind data is that data can be transferred to useful information for decision-making. As a Data Analyst, your job is to not only interpret the data but also to effectively communicate your findings to other stakeholders, so they can make data-informed decisions. Many…[Read more]

Nice point Yu Ming. Automated controls do have many advantages over manual controls for improving efficiency, eliminating fraud or reducing costs of human resources. But it can’t help us to make decision or judgement, for example, a company might use automated procedures to initiate, record, process, and report transactions, in which case records…[Read more]

Nice point Binu. I agree with you that for monitoring and evaluation, it must be done manually. If a supervisor review and sign-off of a document, or bank reconciliation, or having an employee sign a privacy policy acknowledgement, it would be no meaningless if these done automatically, what worse it may provide opportunities for bad guys to commit fraud.

A person’s character is very crucial in the audit industry. How would you build your reputation and maintain a good ethical character in this industry?

Of course, an auditor’s character is very crucial for his/her success, especially you need to contact with different groups of people in different companies with different character, from top…[Read more]