Guidelines on Data Analytics
The Big Data Management Policy, formulated in 2015, envisioned the broad contours of the data analytic framework for the Department. Creation of the Centre for Data Management and Analytics was the first step in establishing this framework. The framing of “Guidelines on Data Analytics”(September 2017) is a major initiative in institutionalising the practice and use of data analytics in the Department. The emphasis is to apply them towards enhancing the quality of public accounting and auditing. These guidelines explain the concept of data analytics, outline the data analytic process and envisage development of data analytic models. These guidelines prescribe the methodology of employing data analytics in the auditing function of Indian Audit and Accounts Department (IA&AD). The data analytic principles and methods will, however, be applicable to the domains of accounting and administration.
The guidelines draw on the existing guidelines on Performance Auditing, Compliance Auditing, Financial Auditing, Auditing Standards and other relevant instructions and manuals in IA&AD. Data analytics begins with identification and collection of various data sources for a particular audit. The analysis of data through various data analytic techniques will yield insights on the working of the audited entity. The risk areas or areas of interest identified through such an exercise will assist in identifying audit objectives and developing an Audit Design Matrix. Data Analytics will also assist in identifying the sample of audit units where substantive checks will be conducted.
These guidelines can be seen by accessing the link provided under Resources Guidelines->Guidelines on Data Analytics at our website www.saiindia.gov.in.
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