Python for Audit Testing (Valuation)
Originally published: 11/12/2018 13:24
Last version published: 08/01/2019 07:50
Publication number: ELQ-50173-2
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Python for Audit Testing (Valuation)

Data Science in External Auditing

Description
Test of Details of Investment Valuations at year end by using Python script to save time, effort and improve audit quality.

Testing list of stock's prices at year-end is a time-consuming exercise and could be frustrating if there are internet and website issues. In this tool by amending few details, and by pressing just one click you could have hundreds of stocks’ year-end prices in a minute. This could not only save your time but at the firm level, it could have significant time savings. Yahoo Finance is one of the most used website auditors used to check year-end prices.

The end result is that you will have all stocks prices in excel!

In this tool, we are using Yahoo Finance API to obtain year-end values of stocks. Yahoo Finance API is not stable, and some time does not work so there are chances that the template will not work is there are changes in the API.

There are 2 videos would help you guide how to use this template:

1. https://youtu.be/mViZ5JkCrVc
2. https://youtu.be/3YMOyehlO9w

If you like it please share this with your other team members to also make their life easy in busy periods. I am also preparing for another tool that would help you to test dividend income.

Happy Auditing!

Thanks
Rizwan

This Best Practice includes
1 python script file

Rizwan Ahmed Surhio offers you this Best Practice for free!

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Further information

To make my contribution to the profession

Yahoo Finance API is not stable and could not work in the future.

Yahoo API issues and Python version change issue

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