Case Information

Using Data Analytics and Visualization in Accounting and Auditing at Toby Biotech Inc.
Rasmussen, Tiffany
Publication date: 7/1/2021, pages 1-9

In this auditing and data visualization case on Toby Biotech Inc. (Toby), use of the data analytics tool Tableau and a certain amount of role-playing needs to occur to identify the accounting anomalies and to be able to ask questions for an in-class simulated audit client team meeting - which is a key learning objective. The class is usually broken up into teams of three to four students. Each student team is then assigned to role-play the audit team from Toby’s firm of independent auditors - TRG LLP - with the key roles being the partner (Jordan), the manager (Aaron) and the senior (Cameron). For this assignment, each student team prepares in advance for the simulated audit client meeting with Toby’s senior financial team, which will include the chief financial officer (Sage), the controller (Duncan) and the chief revenue officer (Taylor) - played by the instructor and teaching assistant—to go over the initial audit findings on accounts receivable (AR), the allowance for credit losses (ACL), the reserve for returns and allowances (RRA), and revenue recognition. Based upon the students’ analysis of Toby’s financial statements and the AR data prior to class, each student team will then present their assessment of Toby’s financial statement risks, share their data visualizations, ask the client questions, and suggest next audit steps in a class session in which the case is discussed.

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