The need for young professionals to be proficient in data and analytics upon graduation cannot be overstated.  Not only do professional service firms expect students to possess a reasonable level of technical proficiency, but the 2024 Business Analysis and Reporting (BAR) section of the Uniform CPA Examination requires skills in Extract, Transform, and Load (ETL), as well as data analysis.  As a result, there is a need for a comprehensive case that requires students to cleanse and analyze client data in an environment that requires critical thinking and data manipulation.

Given this background, we have created a case that has been designed to give instructors an opportunity to integrate Alteryx, a leading data cleansing and analysis tool, into an introductory or advanced auditing class in a meaningful way. 

Learning objectives

The learning objectives of the case are based on the higher order elements of Bloom’s Taxonomy:

 #1 (Evaluate): Assess the risks associated with revenue recognition and their impact on the testing of the revenue and accounts receivable cycle

#2 (Apply): Perform data extraction, transformation and loading (ETL) and organize client data in a format appropriate for use in the audit

#3 (Apply): Determine whether a population of data is complete and accurate prior to its use in audit testing, including reconciling the population to the underlying books and records of the audit client

#4 (Analyze/Evaluate): Summarize and categorize client data using data analysis tools for the purposes assessing risk within the audit

#5 (Apply): Apply critical thinking skills around the identification of exceptions and risk factors in client-provided data

#6 (Create): Design analytical procedures to assess additional risks in the audit and perform them

#7 (Evaluate): Evaluate risk and reach an overall conclusion for each relevant assertion in accordance with applicable professional standards based on the evidential matter considered