Vil en opdatering af ISA 240, der understøtter brugen af dataanalyse kunne give revisor større sikkerhed for opdagelsen af besvigelser?

Emil Kristensen

Student thesis: Master thesis


This thesis has been written as the final part of my Masters of Science Administration and Auditing at Copenhagen Business School. The thesis contains a hypothesis which stipulates the auditor could achieve greater security by the use of data analysis to cover fraud. Throughout the thesis I have reviewed the separate theories that form the basis of our audit standard for identification of fraud. Since 2009, the number of economic crimes increased by approximately 10%. Coupled with the developments of fraud and the pressure for auditors is increasing, while the cost of an audit should be cost-effectiveness. Therefore, I believe that the required improvement or a possible change of ISA 240 would help auditors identify possible fraud risks. In the past several years, the external auditor only discovered about 4% of all reported fraud cases. This poses the question whether auditors do their job well enough or whether the regulations we, as an accountant are working out of are adequate? - Similarly, we can conclude that an effective control environment has helped, identify fraud. The above hypothesis might be alleviated by the use of data analysis. Data analysis has two different kinds of sublines where the rules-based maintain to improve the control environment because you need to define criteria. Whereas the statistical offers the opportunity to assist the auditor to minimize the data, and thus the efficiency of the review and minimize the risks of fraud. To know if our audit standard ISA 240 requires an improvement, I have reviewed the components it contains throughout the thesis and tried to implement data analysis separately. Here I have itemized that, the use of data analysis will serve as the improvement of analytical procedures and to cover the data for the auditor selection of the samples as control audit cannot stand alone to achieve high levels of security Meanwhile, the thesis tries to take former fraud cases and incorporate data analysis with statistical improvement method, and see if it could have made a difference. This was a challenge because we do not have the right tools or data but overall, I think that it could have prevented some of the fraud in time. Overall, I think that implementation of data analysis in audit standard ISA 240 would require it to be established as an option for small businesses, and in the future may be a determined requirement for large enterprises of accounting class D. Listed companies has many billions of transactions, and the auditor has no change of getting through all of them, without a tool that can minimize the total population

EducationsMSc in Auditing, (Graduate Programme) Final Thesis
Publication date2015
Number of pages77