The 2023 Urgent Medical Devices
case 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.
The need for young professionals
to be proficient in data and analytics upon graduation from college cannot be
overstated. Not only are these skills highly desirable in entry level roles, 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, in collaboration with KPMG professionals, we have created this comprehensive case that requires students to cleanse
and analyze client data in an environment that requires critical thinking and
data manipulation.
The case context was purposely developed to include auditing considerations for the revenue cycle. As a result, the case can be a useful tool that will allow students to adopt a professionally skeptical mindset and then apply critical thinking skills during class discussions.
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
