Financial Audit the era of Big Data: new possibilities for evaluating and responding to risks in financial statements of the Federal Government
Abstract
This study analyzes the possible implications of the Big Data era when performing audits of Federal Government financial statements. Financial audit is characterized as a work of assurance and certification. This type of audit is usually carried out annually, based on aggregated data and limited by approaches based on risks, materiality cuts, and statistical samples. In contrast, the practices of Audit Analytics and Continuous Audit allow financial information of the entities to be analyzed in an integral way and with shorter periodicity, contributing to form timely and more reliable opinions regarding the status of the audited entities. Finally, this paper presents data on the information systems that keep the financial records of the Federal Accounting System and makes considerations on the potential contributions of the new audit practices supported by information technology, aiming at improving financial audit activities within the Federal Court of Accounts – Brazil (TCU) and other oversight institutions.Author Biography
Gledson Pompeu Corrêa da Costa
Servidor do Tribunal de Contas da União.
Tiago Alves de Gouveia Lins Dutra
Servidor do Tribunal de Contas da União.