Big Data and Big Data Analysis in Audit Firms

Research purpose: The primary objective of this exploratory research is to comprehensively examine the factors associated with the implementation of big data and the utilization of big data analysis techniques within audit firms situated in Vietnam. This study aims to shed light on the current practices pertaining to big data and its analysis, while also highlighting the challenges encountered by these audit firms in the process. Research motivation: Big data and big data analysis have been adopted in variety of sectors; however, it is an emerging issue in the auditing profession. According to previous research, the application of big data and big data analysis in audit practice is not as frequent as in other sectors. In addition, research on this issue in auditing is considered to be limited, especially in Vietnam. Therefore, the current study aims to find out the current practice of big data and big data analysis in reality among audit firms in a developing country, Vietnam. Research design, approach, and method: Through the utilization of qualitative research methods, including interviews and a thorough analysis of secondary data, this study seeks to uncover valuable insights into the dynamics of big data implementation within the Vietnamese audit industry. Main findings: The study’s findings provide an understanding of the factors influencing the adoption of big data and its analysis techniques within the audit sector. Notably, the research finds factors including the size of audit clients, global strategies adopted by prominent audit firms, and the competitive landscape of the Vietnamese audit market as pivotal determinants shaping the integration of big data analysis in audit firms. Moreover, the study highlights the challenges that audit firms in Vietnam confront when implementing big data and big data analysis. Practical/managerial implications: The current study makes contributions to literature related to big data and big data analysis in the auditing profession. The research issues are emerging and there is limited number of studies conducted in developing countries. It is the first comprehensive study in Vietnam that utilizes qualitative methods to investigate the research issues. The study also makes practical contributions for auditing profession in Vietnam. The results reveal the current practice of big data and big data analysis in audit firms in Vietnam and difficulties that audit firms in Vietnam have to deal with when implementing such kind of modern technology. The results of the study may be useful for audit firms and audit regulators in their decision-making processes.