Rev. Fr. Moses Orshio Adasu University, Makurdi

Auditing in The Era of Big Data and Analytics: A Conceptual Examination

Sebastine Abhus OGBAISI, PhD, James Okeke UKWA &Anthony O. UNUIGBOKHAI

Abstract

In Nigeria, the application of big data and analytics (BDA) is still at an embryonic stage. This is due to the weak data capacity and technological developments in the country. Besides, the infrastructure base and institutional constraints, inflexibilities also militate against BDA in Nigeria. This paper presents a conceptual-based approach in examining the audit profession in the era of BDA that has increasingly seen the use of advanced portfolio of data and technology in the auditing space. Based on the review of the pertinent literature, it was observed that while the utilization of BDA in auditing has reach a considerable and advanced level in developed countries, the situation is however not the same for developing countries, including Nigeria since BDA promotes greater audit effectiveness and efficiency. The paper recommends that higher adoption and utilization of big data and analytics be embraced in the auditing profession and consistent adaptability to new technologies and innovations in the auditing space be explored to keep pace with the ever changing, dynamic and competitive audit profession in line with evolving global standards and pace.

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