The importance of visualization for the auditor

No wonder the second name of visualization is infographics. Since this method of analysis presents information in a graphical form. What can this give us? The advantages of using this method cannot be enumerated since this is a huge range of what miracle a graphical view of the data can create in your report. Starting from a scrupulous analysis of the influence of some arrays on others, ending with just a spectacular image in the report.

Data visualization is the use of graphs, charts, and other techniques to present data in a way that is easier to understand.

For auditors, there are two important points (motives) for using these tools:

1. Using graphical methods in the process of data analysis, this will help to find abnormal deviations much faster, or will lead to a clearer understanding of the trends of a particular indicator. This will also help to draw up the correct conclusion in the qualitative part of the analytics and in the risk assessment.
2. Presenting data in a way that can be understood by a manager or a client who may not necessarily understand quantitative data analysis processes.

Gone are the days when you forced your colleagues to figure out meaning from datasets. Now you can use interactive graphs based on this data to help you make decisions. What was previously an obscure array of data in spreadsheets can be turned into a pie chart. A location-based series of data can be converted to a map. The income variable can become a series of charts.

The “Discovery” feature in CaseWare IDEA will help to make graphs automatically, simply by analyzing the available data, the program will display a dashboard with various graphical representations, in addition, it will highlight data that is out of the general trend in red, which may indicate anomalies in the processes of a particular enterprise. Also, the program will allow you to immediately move into a table with data that characterize the emission. Where can you study the data in more detail.

“Discovery” can transform absolutely any data into an effective dashboard. (Stock quantity by material type, Sales summary by material type, inventory adjustments by material description)

If you have a specific task before you, you can always use the “Visualization” function with which you can create your own graph: bar charts, pie charts, bubble charts, radar charts, scatter charts, surface charts, tree charts, etc.

You can find more details about visualization tools on our  YouTube channel IDEA Analytics 

And the God said: “Noah, make a backup, because I want to reload the base”