Audit data analytics, machine learning, and full population testing

Emerging technologies like data analytics and machine learning are impacting the accounting profession. In particular, significant fi cant changes are anticipated in audit and assurance procedures because of those impacts. One such potential change is audit sampling. As audit sampling only provides a small snapshot of the entire population, it starts to lose some of its meaning in this big data era. One feasible solution is the usage of audit data analytics and machine learning to enable an analysis of the entire population rather than a sample of the transactions. This paper presents an approach for applying audit data analytics and machine learning to full population testing and discusses related challenges. (c) 2022 The Authors. Publishing services by Elsevier B.V. on behalf of KeAi Communications Co. Ltd. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).