Practical and theoretical judgment in data-driven financial due diligence
研究了一家四大会计师事务所的财务尽职调查实践，发现引入更多数据和数据分析工具后，顾问通过实践判断（设定优先级、克制）和理论判断（形成假设、合理性检查）将原始数据转化为可操作的见解。
Purpose New digital technologies are reshaping the business landscape and accounting work. This paper aims to investigate how incorporating more data and new data analytics (DA) tools impacts the role and use of judgment in financial due diligence (FDD). Design/methodology/approach The paper reports findings from a field study at a Big Four accounting firm in Sweden (“DealCo”). The primary data includes semi-structured interviews, observations and other meetings. Theoretically, it draws on Dewey’s The Logic of Judgments of Practise and Logic: The Theory of Inquiry and distinguishes between theoretical (what is probably true) and practical judgment (what to do). Findings In DealCo’s FDD practice, using more data and new DA tools meant that the realm of possibility had expanded significantly. To manage the newfound abundance and to use DA effectively, DealCo’s advisors invoked practical and theoretical judgments in different stages and areas of the data-driven FDD. The paper identifies four critical uses of judgment: Setting priorities and exercising restraint (practical judgment) and forming hypotheses and doing sense checks (theoretical judgment). In these capacities, practical judgment and theoretical judgment were essential in transforming raw data into actionable insights and, in effect, an indeterminate situation into a determinate one. Originality/value The study foregrounds the practical dimension of knowledge production for decision-making and contributes to a better understanding of the role, use and importance of accounting professionals’ judgment in a data-driven world.