How can a financial auditor use the following topic in his future work?perform value chain analysisapply the Strengths, Weaknesses, Opportunities, and Threats (SWOT) framework to formulate strategy recommendationsimportance of data and analytics strategy, data quality, structured approach for conducting analyticsevaluate the output of analytical models using relevant measures of performancecreation of value through data and analytics and discuss the ethical issues in analytics.

Answered: How can a financial auditor use the…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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How can a financial auditor use the following topic in his future work?

perform value chain analysis
apply the Strengths, Weaknesses, Opportunities, and Threats (SWOT) framework to formulate strategy recommendations
importance of data and analytics strategy, data quality, structured approach for conducting analytics
evaluate the output of analytical models using relevant measures of performance
creation of value through data and analytics and discuss the ethical issues in analytics.

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In the ever-evolving landscape of financial auditing, professionals must continually adapt to emerging trends and methodologies. This answer will set the stage for a discussion of critical topics that financial auditors can leverage to enhance their audit processes and provide valuable insights to the organizations they serve.

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