Question
In: Accounting
Based on the movie The Accountant, perform an internet search for what they did with Artificial...
Based on the movie The Accountant, perform an internet search for what they did with Artificial Intelligence.
Required:
Answer the following questions:
- What was he attempting to do by examining the financial numbers?
- Discuss what is business intelligence, automation, and data analytics? What are some ways auditors can use these to help in an audit?
- How could business intelligence, automation, and data analytics have been used to solve the problems he was trying to solve in this movie clip?
Solutions
Expert Solution
A. He was analyzing the financial numbers to compute various ratios and compare them with figures for previous years and identifying patterns in data in order to highlight discrepancies in any particular year.
B. Business intelligence is the collection of strategies and tools used to analyze business information.
Automation is the technology by which a process is performed with minimal human assistance.
Data analytics refers to analyzing raw data in order to make conclusions about that information.
Auditors can use these tools to in order to extensively analyze financial information to identify patterns or other important facts which would be difficult or otherwise time consuming without applying specific strategies or using automation.
C. Business intelligence, automation, and data analytics could have been used by the accountant in finding errors or frauds in his client's financial records in order to uncover discrepancies quickly and without using time consuming manual techniques. He could have used computers to find patterns in financial data of different years instead of manually noting them down.
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