Can You Work In Audit With A Masters In Finance Top 3 Reasons Why the Audit Command Language Is Best for Audit Analytics

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Top 3 Reasons Why the Audit Command Language Is Best for Audit Analytics

One of the fastest growing service industries is the field of data analytics. It went from being a general profile to predict or validate data points to serving specific purposes depending on a company’s goals. Some companies prefer to conduct analysis in-house. Others tend to seek experience outside the company. As a result, analytics has found its way into different domains. Financial auditing is one such domain. The Audit Command Language tool was designed to specifically address this particular area. Below are the reasons why this line of service suits you

1. Real time records – In the audit analytics domain, it is imperative that all steps taken to transform the customer data under audit are properly documented. These records can serve as a basis for further justifying any inquiries with the customer about the captured data. This practice is specifically required for journal entry testing, revenue testing, payroll testing, etc. All these data are sensitive in nature and hence the records provide indemnities to all parties involved for a thorough audit.

2. Easy UI – The audit command language has a unique tool built for data analysis. The user interface is not very intimidating. This is so mainly because it is meant to be used by people who are in the auditing domain. Most professionals in this domain have no technical background in scripting or coding. A simple interface means that existing professionals can carry out their tasks with very limited training from organizations. The user interface also allows all procedures performed using the GUI to be recorded as logs. This is also a quick way for professionals to learn the tool to automate certain tasks, which are repetitive in nature.

3. Infrastructure – Unlike some other tools on the market, the ACL audit command language does not require a large investment in terms of infrastructure. For example, to configure the SAS business guide, it would be necessary to configure a server to host the data sets in a certain schema, or even SQL-based tools such as MS SQL Server to require other tools such as Excel to prepare and format the results of the database outputs. The auditing command language can be easily run on users’ desktops or configured on remote servers, where each project runs independently.

Having mentioned the advantages of the audit command language, it should be noted that this tool has some limitations that sometimes hinder the work that needs to be done even in the audit domain. However, with its core features serving the main purposes, it is a solid foundation for audit firms to include analytics in their practices.

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