This module introduces you to important concepts related to auditing. We begin by reviewing the different types of technology that can be used by the auditors to increase the effectiveness and efficiency of audits. We then examine how and why mistakes or fraud occur. We also discuss how internal controls can be placed to prevent misstatements. Finally, we demonstrate the control test workflow using a real-world dataset in both Alteryx Designer and RStudio.

Numbers are everywhere in the financial statements. However, accounting is also about more than numbers. In this module, we discuss how text in accounting disclosure and other accounting information can contain useful information. We also demonstrate how to implement a basic natural language processing (NLP) pipeline using R.

Accountants do many things that are standardized and mundane. This module introduces you to robotic process automation (RPA) that can be used to automate those routine tasks. We begin by looking at the definition of RPA and where it stands in the automation continuum. We then examine suitable tasks for RPA, steps in implementing RPA, and pros and cons associated with using RPA. We will also discuss the effect of RPA on accounting. We conclude the module with a demonstration of RPA using UiPath.