1. Read the articles assigned by your instructor to gain an understanding about how Big Data, data analytics, and new
technologies are transforming external audits. After reading these articles, provide a response to the following two
questions:
a. Discuss at least three specific ways in which Big Data, data analytics, and new technologies can enhance external
audits. How does each item discussed improve the effectiveness and/or efficiency of the audit?
b. On the other hand, what challenges do auditors face when using Big Data, data analytics, and new technologies
during an audit?
2. As noted in the case, auditing standards specifically require auditors to identify revenue recognition as a fraud risk in
most audits. Based on your understanding of the company, what factors may increase the risk of fraudulent financial
reporting in Souper Bowl’s 2016 revenues?
3. Use the daily sales by location as provided by the client (2016 and 2015) and the weather data from NOAA to perform
disaggregated sales analytics in Tableau. Your goal is to develop visualizations that identify potential outliers in the
2016 daily sales data related to the significant risks identified by the partner and manager. Using the memo template in
Appendix B, document your analyses and conclusions as to the specific daily sales from certain locations that you
recommend selecting for focused substantive testing.
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