Question

You are currently working in a mid-tier accounting firm. In an engagement meeting with a client, the management of your client is concerned that the audit tests that you perform will disrupt operations. Your client has recently implemented a data warehouse and the management suggests that you draw the data for analytical reviews and substantive testing from the data warehouse instead of the operational database. The management points out that operational data are copied weekly into the data warehouse and all data you need are contained there. Outline your response to the management’s proposal and mention any concerns you might have. (10 marks, maximum 300 words)You are currently working in a mid-tier accounting firm. In an engagement meeting with a client, the management of your client is concerned that the audit tests that you perform will disrupt operations. Your client has recently implemented a data warehouse and the management suggests that you draw the data for analytical reviews and substantive testing from the data warehouse instead of the operational database. The management points out that operational data are copied weekly into the data warehouse and all data you need are contained there.

Outline your response to the management’s proposal and mention any concerns you might have. (10 marks, maximum 300 words)

Answer 1

Answer:

Business knowledge has progressed quickly and significantly in recent years, and numerous individuals are exploiting it. With the intensity of this new business knowledge or business intelligence(PI), you can break down and utilize every one of your information to be increasingly effective and proficient. Enter the data warehouse.

Basically, a data warehouse is an enormous store of information gathered from a wide range of sources inside a business. An information distribution center or a data warehouse is utilized as a capacity for data analytics work (OLAP frameworks), leaving the transaction database (OLTP frameworks) allowed to concentrate on exchanges. With a lot of information in one spot, it is presently simpler for organizations to break down or analyze and decide the best data.

Construct Data warehouse:-

While it is doubtful that having every one of your information in one spot is the greatest bit of leeway of having a data warehouse, it is absolutely not one.

Here are some different advantages of having a data warehouse:

• Save Time : Business clients can rapidly get to information from various sources inside the data warehouse, which implies no time wasted on retrieving information from different sources.
• Increase Trust : Instead of being supplanted by human work, the information is naturally moved to your data warehouse by an organized framework, giving you more prominent certainty to keep your information spotless, current, and complete.
• Increase insight : Data warehouse design your information so it very well may be handily investigated.
• Improving Security : Managing individuals who approach your information is a lot simpler when there is an incorporated association point. Information or data warehouse make security totally adaptable, so you can give access to everybody you need and lock all your different frameworks.

When utilizing the data warehouse to its maximum capacity, dissecting the information is helpful and simple to respond to significant inquiries or questions concerning your business. Your information is composed and accessible so you can find your solutions rapidly and safely.

Since you know why it is useful to have a data warehouse for your business, we should discuss the stuff to construct one.

Despite the particular methodology you are taking to construct a data warehouse, There are three segments you have to construct your core architecture:

• A storage algorithm,
• Functional software and
• HR.

Sotarage: This part of the structure is the fundamental foundation, this is the place your warehouse dwells. There are two primary alternatives with regards to storage.They are : an in-house server (Oracle, Microsoft SQL Server) or in the cloud (Amazon S3, Microsoft Azure). Internal server is the interior equipment set up inside your office, and the cloud is a digital storage solution dependent on outer servers. One is a practical alternative with regards to capacity, all relies upon your requirements.

Software: This is the useful part of the data warehouse architecture. It is frequently isolated into two classes - centralization programming and visualization programming. Centralization programming is required to gather and keep up information originating from all your individual databases. Visualization programming is expected to take information and convey it in a visual configuration to help in analysis. Some centralization programming incorporates visualization programming as a component of its bundle, however it is strongly suggested that you keep the two sorts of programming significant.

Human resources : This is the administration part of the data warehouse, which is significant in having a work solution. To keep your warehouse working, it is essential to employ new situations in your business. Since running a data warehouse requires lots of information, it is essential to enlist well-skilled experts. Be that as it may, in the event that you pick a cloud-based warehouse, there is no compelling reason to have an excessive amount of HR. The cloud is overseen by outsider sellers, so it is their obligation to do ordinary maintenance on the hardware and servers.

Control Objective:-

• There must be a corporate word reference to look after Metadata. It ought to be refreshed and included at least:Definition of situations, techniques for coordinating information, information Mappings, Users,Metadata is a center point of data Warehouse and ought to be overseen likewise.
• Metadata ought to be automated by the executives An exceptional tool, and ought to never be inserted Programs or techniques.
• On the off chance that metadata is combined in various devices, these ought to be this data can be shared and shown to the client a parallel route.
• Metadata must be dynamic and develop through it Plan and PC lifetime, every one of which is genuine the ideal opportunity for any changes to influence them.

Conclusion:-

A data warehouse is an incredible answer for unifying and investigating the information of (mid-tire) firm. It improves information accessibility, improves proficiency in the analysis procedure, improves the nature of data required for reporting, and works safely with the information. The structure of the data warehouse is fundamental, which incorporates a capacity framework, two sorts of programming, and some representatives.