BIG DATA ANALYTICS (BDA) AND AUDIT EFFICIENCY: PERCEPTION OF AUDITORS IN AWKA, ANAMBRA STATE

Abstract

The broad objective of the study was to ascertain the effect of Big Data Analytics (BDA) on audit efficiency among auditors in Awka, Anambra State. Computerisation, globalisation and the growing amount of information now pose challenges to traditional auditors. Thus, the current era requires implementing BDA techniques to analyze such voluminous data. The study specifically evaluated the effect of Big Data Analytics (BDA) on audit risk assessment, task competence and audit report filing by auditors. The survey research design was used in this research. The population comprised 72 auditors drawn from private limited firms in Awka. The study employed the census sampling technique and relied on primary data, which was generated from a structured questionnaire administered to the auditors. The reliability of the instrument was determined using Cronbach's alpha. The data were analysed using descriptive and inferential statistical techniques. The hypotheses were tested using Pearson Product Moment Correlation Coefficient (PPMC).

The empirical results showed that there is a significant relationship between BDA and audit risk assessment (p<.05); there is a significant relationship between BDA and task competence (p<.05); and, BDA has influenced audit report filing by auditors in Awka, Anambra State. Based on this, the study recommends the utilisation of BDA for audit risk assessment. Real-time data analysis allows auditors to compare vast amounts of data.