The use of Data analytics is not as developed and efficient as people may think for the following reasons : 


  • Data analytics tests are mainly meant to comply with legislations and not to cover all types of risks 

  • Most Data analytics tests are to simple to identify complex Fraud and cover basic mainly internal controls gaps

  • Source of data are not or poorly tapped  

  • Data analytics tools are not in place or underexploited

  • Lack of methodology to  set up the data analytics tests  

  • Strong reliance on data analysts and lack of autonomy or independence for people in charge of audits or investigations.



Why is this opportunity not taken by audit and forensics professionals :


  • Lack of confidence to start their data journey

  • Fear of the unknown and desire to stick to routine   

  • Lack of concrete examples to understand reasons to start or to go further 

  • Fear to invest in tools, people or trainings 

  • Lack of relevant training programms adapted to audit and forensic needs   

  • Lack of data governance management or tech oriented governance with no interest in audit and forensics needs