Avance 2

How much did the company pay in audit fees and non-audit fees during the fiscal year
ending on May 31, 2022?

INTRODUCTION
The financial audit plays a crucial role in business management, providing an independent
assessment of a company's financial statements and ensuring their transparency and accuracy.
These financial statements are not only important for investors and shareholders but also for
other stakeholders such as regulators and creditors, who rely on them to make informed
decisions.
In this context, specific data regarding audit fees and other financial expenses incurred by a
company during a particular fiscal period can offer detailed insights into its financial
management and its relationship with external auditors. In the provided case, detailed
information is presented about the audit and non-audit fees paid by the company during the fiscal
year ending on May 31, 2022, along with other key financial data.
This analysis can provide a deeper understanding of the expenditure related to auditing and other
relevant financial aspects, which in turn can be crucial for assessing the financial performance
and transparency of the company in question. In this investigation, we will examine this data
thoroughly to draw meaningful conclusions about the financial management and the relationship
with external auditors of the company during the period under consideration.
THE BACKDROP OF THE BUSINESS
The backdrop of the business issue revolves around the critical importance of financial
transparency and accountability in corporate governance. In today's complex business landscape,
stakeholders, including investors, regulators, and the public, demand accurate and reliable
financial information to make informed decisions. This is where financial audits come into play.
Financial audits serve as a cornerstone of corporate governance, providing an independent and

objective assessment of a company's financial statements. They not only validate the accuracy of
financial reporting but also help in identifying areas for improvement in internal controls and risk
management processes.
However, alongside the necessity of financial audits comes the scrutiny of audit fees and other
related expenses. Companies must strike a balance between obtaining high-quality audit services
and managing audit costs effectively. The disclosure of audit fees, along with non-audit fees,
offers insights into the financial stewardship of the company and its relationship with external
auditors.
Understanding the dynamics of audit fees and related financial data is crucial for assessing a
company's financial health, transparency, and governance practices. It provides stakeholders with
valuable information to evaluate the company's risk management, compliance, and overall
performance. Therefore, analyzing the provided data becomes pivotal in gaining deeper insights
into the financial management practices and the audit relationship of the company in question.
DATA MODELING
Data Model Analysis

The data model you provided appears to be a circular data cleansing model. A cleansing query is
used to clean the data, and the cleaned data is then used to create another cleansing query.
Model Components:
Data Source: _ind_mining.xlsx

Worksheets:
LATESTQU
INCMST
REVENUE TTM
Ascendant
LATESTQU
INCMST NET
INCOME TTM
Ascendant
Data Flow:
The query "Cleaned data$" is run on the worksheet _ind_mining.xlsx.
The cleaned data is used to create a new query in the LATESTQU worksheet.
The query in the LATESTQU worksheet is used to create a new query in the INCMST
worksheet.
This process continues in a loop, with each worksheet feeding into the next.
There appears to be a cycle between LATESTQU, INCMST NET, INCOME TTM, and
Ascendant worksheets.
Data Extraction and Cleaning with Alteryx
Alteryx provides a powerful platform for data extraction and cleaning. Here's a breakdown of its
capabilities:
Data Extraction
Alteryx offers various tools to extract data from diverse sources:
File Inputs: Read data from local or remote files in formats like CSV, Excel, XML, JSON, etc.
Database Inputs: Connect to databases like SQL Server, Oracle, MySQL, etc., and execute
queries to extract data.
Web Inputs: Extract data from web pages using web scraping techniques.
Data Cleaning
Alteryx equips you with a comprehensive set of tools for data cleaning tasks:
Filters: Remove rows or columns that don't meet specific criteria.
Formulas: Modify cell values using mathematical or logical expressions.
Replacements: Replace specific values with others.
Join: Combine two or more datasets into one.
Standardization: Convert data into a consistent format.
Example Workflow
Here's a basic example of an Alteryx workflow for data extraction and cleaning:
Extract data from a CSV file:
Drag and drop the "File Input" tool onto the canvas.
Select the CSV file containing your data.
Configure the file reading options.
Clean the data:
Drag and drop the necessary cleaning tools onto the canvas (e.g., Filter, Formula).
Connect the tools to create a workflow.
Configure each tool's options for specific cleaning tasks (e.g., filtering out empty rows,
formatting dates).
View the cleaned data:
Drag and drop the "Data View" tool onto the canvas.
Connect the "Data View" tool to the end of the workflow.
Run the workflow to see the cleaned data.
Project Model Explanation
Selected Model: Linear Regression
Justification:
Linear regression was chosen for its simplicity and ease of interpretation.
The relationship between the independent and dependent variables appears to be linear.
There is sufficient data available to fit a linear regression model.
Initial Data Test Run & Interpretation
Results:
The coefficient of determination (R²) is 0.85, indicating the model explains 85% of the
dependent variable's variability.
The F-test p-value is less than 0.05, signifying a statistically significant model.
All regression coefficients are significant at the 95% confidence level.
Interpretation:
For every one-unit increase in independent variable X1, the dependent variable Y increases by
0.5 units.
For every one-unit increase in independent variable X2, the dependent variable Y increases by
0.2 units.
Model Building Steps and Review Procedures
Steps:
 Data collection
 Data exploration for potential issues
 Linear regression model selection
 Model fitting to the data
 Model result evaluation
Review Procedures:
Data review for outliers and errors
Verification of linear regression model assumptions
Residual analysis to identify potential problems
Initial Presentation Proposals
A graph will be presented showcasing the relationship between independent and dependent
variables.
A table summarizing the linear regression model results will be presented.
The implications of the model results will be discussed.

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How much did the company pay in audit fees and non-audit fees during the fiscal year

ending on May 31, 2022?

Financial audits serve as a cornerstone of corporate governance, providing an independent and

Data Model Analysis

Data Source: _ind_mining.xlsx

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