Where Open Source Meets Audit Analytics

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Open source software is taking the computer science community and IT departments by storm. The breadth of options, the timeliness of updates, the price, and the sense of community are all contributing factors to the rise of open source computing. For many years audit analytics has been confined to the Computer Assisted Auditing Techniques, CAAT, software vendors ACL, IDEA and now Arbutus. However, these software programs require extensive training to use effectively, are not very flexible, and in most cases fail to provide the outcome auditors are expecting. Moving to an open source platform based around the python ecosystem allows for true customization of analytics, and provides a common language to interact with your IT department. By using the same set of tools, an auditing department can move from rudimentary AP duplicate tests all the way to advanced classification and clustering machine learning tests. Although the barrier to entry for open source software is higher than for most CAATs, with cross-functional collaboration, a truly customized, sustainable, and highly effective analytics program can be created.

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