How to Improve Performance in Public Sector Auditing Through the Power of Big Data and Data Analytics  – The Case of The Republic Of North Macedonia

Lazarevska, Zorica Bozhinovska; Tocev, Todor; Dionisijev, Ivan

doi:10.32602/jafas.2022.023

Cited by 4 publications

(2 citation statements)

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“…In the swiftly transforming digital age, big data technology has been recognized as a crucial catalyst propelling advancements across various sectors (Awad et al, 2023;Chandrasekaran et al, 2021;Chennouk et al, 2022;Hasan et al, 2022;He et al, 2022;Kusrini et al, 2022;Lazarevska et al, 2022;Li and Gao, 2022;Zhang et al, 2023;Zhao et al, 2022). The agricultural industry, quintessential for sustaining human life, relies heavily on the efficiency and security of its supply chain.…”

Section: Introductionmentioning

confidence: 99%

Big data-driven risk decision-making and safety management in agricultural supply chains

Han,

Pan,

Zhang

2024

Qual. Assur. Saf. Crops Foods

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In the era of digitization, the integration of big data technologies has become instrumental in advancing agri-cultural supply chain management and bolstering risk decision-making processes. Agricultural supply chains, critical to ensuring food security and bolstering rural economies, face vulnerabilities stemming from a myriad of internal and external elements, including natural disasters and market dynamics. Consequently, the urgency to adopt effective risk management strategies is paramount. Contemporary studies have explored the utilization of big data in decision-making processes specific to agricultural supply chain risks, predominantly concentrat-ing on preliminary risk prediction and characterization. Nonetheless, there exists a shortfall in comprehensively analyzing the intricate interplay among risk factors and establishing a holistic risk management decision-making framework based on such analyses. This research addresses these deficiencies through two principal investigative components. First, this research explores the analysis of risk factors and their interrelationships in the agricultural supply chain based on a decision tree algorithm with a transition structure. This algorithm enhances decision-makers’ understanding of risk factors and their interrelationships, and guide the implementation of effective risk mitigation measures and the formulation of contingency plans. Subsequently, the research constructs a corresponding data-driven multi-criteria decision-making method, assisting managers in balancing different risk management strategies in a volatile supply chain environment, considering costs, benefits, and feasibility to formulate the optimal strategy. The innovation of this research lies in the development of a novel risk analysis tool based on the transition decision tree algorithm. This is the first time that such advanced algorithms are applied to agricultural supply chain risk management, filling a gap in the current research. The outcomes of this study not only contribute to enhancing risk management practices within agricultural supply chains but also offer novel insights and methodological tools that are applicable in research and practices across related domains.

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Section: Introductionmentioning

confidence: 99%

Big data-driven risk decision-making and safety management in agricultural supply chains

Han,

Pan,

Zhang

2024

Qual. Assur. Saf. Crops Foods

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“…The automation of mundane audit processes effectively eliminates repetitive manual tasks while enhancing auditors' efficiency and productivity (Tiberius & Hirth, 2019;Kelly, 2020) by mitigating the risk of human errors (Moffitt et al, 2018). Big data and data analytics also elevate the quality of audit engagement (Kelly, 2020;Lazarevska et al, 2022). The establishment of an information analysis system (IAS) in Russia has empowered auditors to conduct remote audits, which facilitates assessments of over 130 information systems across more than 30 state agencies.…”

Section: Introductionmentioning

confidence: 99%

Benefits and Challenges of Digital Audit Implementation in the Malaysian Public Sector: Evidence from the Accountant General's Department of Malaysia

Mokhtar,

Ismail,

Ahmad

2024

ipnj

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Purpose: The current study aims to investigate the important benefits or advantages of digital audit implementation perceived by the internal auditors of the Accountant General’s Department of Malaysia (AGD), and examine the significant challenges faced by the AGD auditors in implementing digital audit. Design/ Methodology/ Approach: A focus group discussion was conducted with AGD officers involved in digital audit implementation and a questionnaire survey was distributed to the AGD auditors to achieve the research objectives. All 124 auditors responded and returned the completed questionnaire. Thematic analysis was performed on the transcription of the focus group discussion while descriptive statistics of mean scores, standard deviations, and mean score ranking were utilised to analyse the questionnaire data. Findings: The top five ranked benefits of digital audit implementation perceived by the respondents were improving the quality of audit report, increasing the efficiency of audit, assisting auditors in identifying material misstatements, improving the quality of the audit processes and enhancing audit effectiveness. The top three challenges were requiring additional education and training to acquire the necessary digital skills, high implementation costs and the risk of data security (leakage) and confidentiality. Originality/ Value: The present study contributes to the existing limited empirical evidence on the fundamental advantages and challenges of digital audit implementation despite various conceptual discussions on the two implementation aspects. Keywords: Digital audit, public sector, advantages, challenges, internal audit

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The application of Artificial Intelligence in external auditing and its implications on audit quality? A review of the ongoing debates

Mpofu

2023

IJRBS

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With the intensity of the Fourth Industrial Revolution, Artificial Intelligence (AI) is being widely adopted to perform key tasks in economic activities. The audit profession has also embraced AI in the performance of its function in carrying out activities like audits, oversight, and advisory functions. The application of AI has been met with acceptance, given its advantages in some quarters and with resistance/scepticism in some. Proponents table benefits such as improved sampling procedures, reduced labour, and time in performing audits, increased efficiency, and effectiveness (due to increased audit coverage) including improved audit quality. Opponents raise pragmatic concerns such as the violation of ethical principles governing the audit profession, potential biases (loss of employment) as well as the challenges of coordinating machine and human activities. The study has two objectives. Firstly, to explore the role of AI in the external audit function. Secondly, to evaluate the ongoing debates on artificial intelligence and external auditing and assess the implications of using AI in the external audit function. The study adopts a qualitative research approach, employing a critical literature review. The study will accentuate the controversies and convergences among researchers on the role and implications of applying AI in external auditing to bring to light possible research gaps that can be explored by future researchers on the subject area. Highlighting the potential externalities of using AI has both theoretical and practical implications.

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How to Improve Performance in Public Sector Auditing Through the Power of Big Data and Data Analytics – The Case of The Republic Of North Macedonia

Cited by 4 publications

References 0 publications

Big data-driven risk decision-making and safety management in agricultural supply chains

Big data-driven risk decision-making and safety management in agricultural supply chains

Benefits and Challenges of Digital Audit Implementation in the Malaysian Public Sector: Evidence from the Accountant General's Department of Malaysia

The application of Artificial Intelligence in external auditing and its implications on audit quality? A review of the ongoing debates

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