Yu Ming Keung

Rightly pointed out, Abhay. The sheer volume of data and the various channels through which data flows in coupled with the uncertainty of that data or source being unreliable makes it challenging for today’s businesses to completely rely on the data.

Only a few days back, I was reading this WSJ article (https://www.wsj.com/articles/google-agrees-to-youtube-metrics-audit-to-ease-advertisers-concerns-1487678403) about youtube’s ad metrics where concerns were raised regarding the transparency of their data. This too is a challenge as the ad giants like youtube and Facebook on one hand either need to implement third party tracking code to track viewability data or get a bad rep for playing by their own rules if they use their own data.

Thank you for the article, Mansi.

Another point that just struck me is the cost associated with data warehousing and just the management of data. For companies on which data is bombarded by users everyday, for them, considering such data quality challenges, it will be very difficult to justify the data warehousing cost since warehousing requires a size able commitment of organizational resources. Also while calculating the ROI, it will be a challenge to evaluate the benefits.

I totally agree with you Abhay V Kshirsagar. As what you mentioned, data analysis help the auditor to find patterns and relationship among data. In addition, as the use of information technology (IT) grows, more fraud will involve the use of—and be detected by—computers. Computerized techniques and interactive software can help auditors focus their efforts on the areas of greatest risk with the lower cost.