Akademik Veri Yönetim Sistemi
EDPACS, cilt.0, sa.0, ss.1-25, 2024 (Scopus)
TURKISH COURT OF ACCOUNTS: ANALYZING FINANCIAL AUDIT, DIGITALIZATION, AI IMPACT
Abstract
Countries’ audit institutions play a critical role in financial management and accountability. These institutions perform tasks such as financial accountability, detection of corruption and errors, evaluation of government performance, accountable public administration, transparency and legal oversight, and prevention of legal violations, contributing to public trust. The Court of Accounts Presidency is the supreme audit institution of the Republic of Türkiye. This study sequentially addresses the audit process and procedure of the Court of Accounts, the impact of digitization, information technologies, and artificial intelligence on the audit process. Additionally, an evaluation of the institution’s technology and information infrastructure is conducted. A detailed assessment is presented regarding the Court of Accounts’ use of the Court of Accounts Data Analysis System (VERA), Unified Data Transfer System (BVAS), and Audit Management Program (SayCap). The institution’s technology and information infrastructure related to big data and big data analytics are evaluated based on the institution’s reports and documents. Finally, evaluating the potential integration of artificial intelligence into these systems is considered highly beneficial. For human resources in the field to be more proficient in current technologies, implementing artificial intelligence, big data, and big data analytics in the audit domain of public institutions is seen as highly advantageous. Additionally, it is strongly recommended that educational institutions training audit professionals incorporate courses on data analytics, big data, big data analytics, machine learning, and artificial intelligence into their curricula.
INTRODUCTION
Since the emergence of computers in the twentieth century, advancements in information technology and technology have become increasingly significant (Karakaş & Özen, Citation2021). The digitization process emerged alongside. The conceptual definitions of the term were first attempted by Claude E. Shannon (Citation1948), suggesting fundamentally that all types of information could be stored using binary digits, indicating that analog signals could be converted into digital signals (Özen & Kara, Citation2023). The public sector, like all industries, is affected by this transformation. Remarkably, the Court of Accounts' audit processes and other activities are also impacted. Current and emerging technologies transform information, accelerate information generation, and necessitate the development of server technologies where data is stored, affecting audit procedures. In this paradigm shift, big data, big data analytics, and, more specifically, business intelligence technology are gaining increasing importance for all institutions.
While the existence of information systems does not alter the fundamental audit objectives, it possesses a feature that can impact auditors’ risk assessments. These systems alter audit evidence, audit trails, and the internal control environment, introducing new mechanisms and opportunities for detecting fraud and errors. Therefore, in the audit process, information systems can lead to changes in audit techniques, evidence, and, most importantly, the audit approach (Yıldız, Citation2007). Nowadays, there is a significantly more considerable amount of data that audit authorities need to examine. In fact, audit processes are increasingly encountering big data, which continues to increase in volume rapidly. According to Wang (Citation2020), in recent years, big data and cloud computing technology have become widely utilized, leading to profound changes in both business and daily life. In the financial sector, the integration of “Internet + accounting” has made big data audits a hot topic. According to Salijeni et al. (Citation2019), big data analysis in auditing is generally defined as follows: ”The science and art of extracting information discovered through data analysis, modelling, and visualization for the purpose of planning or conducting audits by discovering and analyzing patterns and anomalies in data related to the subject of the audit.”
This study focuses on various crucial issues by examining the audit processes and information technologies conducted by the Court of Accounts as the supreme audit institution. The information technology infrastructure of the Court of Accounts, including programs such as the Court of Accounts Data Analysis System(VERA), Unified Data Transfer System (BVAS), and AuditManagement Program (SayCap), has been scrutinized. Additionally, the study provides a detailed evaluation of big data and its features within the scope of the audit. Furthermore, the study delves into the factors necessary for the success of big data projects and the significance of big data analytics in influencing criminal behaviors. Additionally, the challenges encountered in implementing big data in the public sector are thoroughly exam-ined. Finally, the potential integration of artificial intelligence into these systems and the possible benefits and outcomes of artificial intelligence are evaluated. Firstly, to reflect the thematic coher-ence under the titles, academic articles were searched through Google Scholar, and then research conducted on relevant topics in leading journals of the field was evaluated through the Web of Science. For states to survive and remain sustainable, there is a need for the optimal use of the audit authority granted by the people to public institutions. Our study acknowledges this reality and focuses on the audit by placing it at the center, discussing business intelligence technology, a critical technology for big data and big data analytics, and artificial intelligence with current publications in the literature.
Read More:https://www.tandfonline.com/doi/full/10.1080/07366981.2024.2376791