The nature of auditing involves poring over transactions, financial records and numerous data points. However, in recent years, auditors have shifted further into financial data analysis, leveraging new software tools to gain deeper insights into organizations than ever before. This approach reflects a broader shift in the auditing profession, which increasingly relies on an abundance of data to conduct analyses, detect anomalies, assess risks and make projections. Today, auditing is no longer just about crunching numbers — it’s about identifying potential risks and problems and then developing solutions.

“There’s an immense amount of data that goes into an audit,” said Dickey. “This course uses tools and data that closely resemble what students will encounter in the real world and provides them with the skills to think through problems.”

For example, one scenario students tackle in the course involves analyzing a soup company’s sales data alongside weather and snowfall patterns. Since soup sales are expected to increase in colder temperatures, students use Tableau, an industry-standard data analysis tool, to detect outliers among restaurants — helping them identify businesses that may warrant further investigation. Tableau provides visualizations of the data, highlighting irregularities that might otherwise go unnoticed.

Another tool, Alteryx, enables users to quickly access, manipulate and analyze data. Students use it to assess whether a company’s information technology general controls are functioning effectively by evaluating a sample of passwords.

Interactive Data Extraction and Analysis (IDEA) is also incorporated into the course to examine multiple data sources. This tool helps students test account transactions and balances — such as accounts receivable, cash disbursements and inventory — for potential monetary misstatements by selecting samples, evaluating evidence and analyzing outputs.

In certain exercises, Dickey deliberately refrains from telling students what to look for, encouraging them to understand the data and interpret the output. Because emerging technologies constantly evolve, this ambiguity reinforces problem-solving skills essential in modern auditing.

“What employers want is an auditor who is comfortable using new technologies and who can think through problems that haven’t even been identified yet,” Dickey said. “The skills students gain in this course are highly relevant, particularly as firms begin implementing artificial intelligence tools. Graduates have already worked with a variety of new technologies and learned how to adapt.”

Lucas Samuelson (Accounting ‘23, Master of Accounting ‘24) echoes that sentiment. Many of the software programs he used in the course were similar to those he encountered during an internship at the leading global accounting firm RSM, giving him a competitive advantage when starting his career.

“It was incredibly beneficial to become familiar with the software programs companies are using,” said Samuelson, who graduated from the Master of Accounting program and took the CPA exam. “It allows you to hit the ground running ahead of your peers and other new hires. Getting hands-on experience with real data, analyzing financials and working on projects — it all helps us tremendously.”

And that’s the goal of Advanced Auditing: to help students develop the technical expertise and adaptability they need to have confidence in uncovering meaningful data insights.

“It really gives students the ability to utilize some of the emerging technologies and make sense of the data,” Dickey said. “The goal is to give them projects that stimulate their thinking — so they’re ready when they graduate.”