Using Consumer Tweets to Improve Revenue Risk Assessments in Consumer-Oriented Industries

SUMMARY This article summarizes the study of Rozario, Vasarhelyi, and Wang (2022), which examines use consumer tweets in improving prediction error detection performance preliminary analytical procedures for revenue account firms that belong to consumer-oriented industries. They find about product or brand interest increase ability compared do not include it. These results suggest this new source external nonfinancial information is incrementally informative auditors developing assessments risk misstated planning stage audit. The findings have important implications may be relevant audits other financial statement accounts.