Part I

Data Analytics is becoming a major focus of internal auditing departments.

Give two examples where data analytics may be used by an internal auditing department.

Explain why data analytics has become a superior audit tool compared to statistical sampling.

Part II

When planning an assurance engagement, auditors typically try to discern the Key Performance Indicators initiated by senior management for an auditee.

What is a Key Performance Indicator and why is it important to the auditors to understand them for an auditee?