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The Future of Audit Specific Software: A Look at Some of the Changes to Expect in 2013. Porter Broyles. The Desire for CAATTS And Continuous Assurance. CAATS vs CAATTS. Computer Aided Audit Tools Vs Computer Aided Audit Tools and Techniques. Consistently SOUGHT.

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The Future of Audit Specific Software: A Look at Some of the Changes to Expect in 2013


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    1. The Future of Audit Specific Software: A Look at Some of the Changes to Expect in 2013 Porter Broyles

    2. The Desire forCAATTS And Continuous Assurance

    3. CAATS vs CAATTS Computer Aided Audit Tools Vs Computer Aided Audit Tools and Techniques

    4. Consistently SOUGHT Protiviti: 2012 Internal Audit Capabilities and Needs Survey

    5. 52 Essential Audit Skills Sampling Tools Internal Marketing Continuous Monitoring Competency Continuous Audit Statistical Analysis Data Manipulation Tools CAATS Need to Improve Protiviti: 2012 Internal Audit Capabilities and Needs Survey

    6. What does it take? • Tone at the top • Place high priority on leveraging technology to boost performance. • Hire people with the right skills • Train, train, train. Teammates 2011 Global Technology Survey

    7. Tone at the Top • The more the top level administrators buy into CAATTS/CA, the easier it is to implement. • Executive level support helps to break down barriers and obstacles that can hinder development.

    8. Place high priority on leveraging technology to boost performance. In exercising due professional care, internal auditors must consider the use of technology-based audit and other data analysis techniques. (Standard 1220.A2) Should consider use of CAATTS with every Audit. (Example: My Quality Assurance Review.)

    9. No requirement lowers expectations If it is not required to use CAATTS then there is less likelihood that data analytics will be used even if the department has acquired the software. 2012 Auditnet Survey Report on Data Analysis Software and Auditors

    10. Hire the right skills Over the years, there has been discussion on whether everybody in the department should be CAATTs experts or just a few select people. IIA has issued guidance on this: “Internal auditors MUST have sufficient knowledge of … technology-based audit techniques to perform their assigned work. However, not all auditors are expected to have the expertise of an internal auditor whose primary responsibility is information technology auditing.” International Professional Practices Framework

    11. Train TrainTrain Cost is the main reason reported by those who have not purchased audit software (75%) with the next highest barrier being staff training. (2012 Auditnet Survey Report on Data Analysis Software and Auditors)

    12. How is training performed Auditnet – 2012 State of Technology Use by Auditors

    13. Training a little better for current staff

    14. ACL Super Users • David Coderre – Not a programmer by training • Porter Broyles – Not a programmer by training • George Hrabak – Not a programmer by training • Paul Picard – Not a programmer by training • Jean Guy-Pitre – Not a programmer by training • Steve (Khashar)– A programmer by training • Ian Craigen – Not a programmer by training • Darius (Jazio) – A programmer by training

    15. Which toolS are used: 2012 Auditnet Survey Report on Data Analysis Software and Auditors

    16. About ACL • Founded in 1987 • Vancouver, BC • Over two-thirds of the Global 500 • 89% of the Fortune 500 • 98% of the Fortune 100 • All Big 4 accounting firms • Hundreds of national, state and local governments • Over 14,700 organizations in more than 150 countries

    17. About CaseWare International Inc • Founded in 1988 • Toronto Ontario • 130 countries • IDEA designed by Canadian Institute of Chartered Accountants (CICA) • 280+ employees plus distributors

    18. ACL and IDEA • Designed by auditors for auditors. • Built in commands/functions for auditors. • Log file for capturing work. • 100% data review. • Can load most major data sources. • Read only, can’t change original data sources.

    19. Built-in functions include: • Reading computer fillies • Selecting data • Manipulating data • Sorting data • Summarizing data • Performing calculations • Selecting samples • Printing reports

    20. ACL vs IDEA • Very similar tools • Both designed for auditors • Ease of use • Programming language • Audit specific commands/tools • Logging of tests • Both have advantages/disadvantages with each other

    21. Arguing over which is best Is like arguing over which is better : Apple or PC Ford or Chevy Creamy or Chunky Peanut Butter Star Wars or Star Trek You have experts on both sides, but the truth might be somewhere in between.

    22. Intangibles for Idea • Houston is an IDEA hotspot • VBA is base language • Several significant upgrades over past few years

    23. Intangibles for ACL • More people have ACL experience. • More jobs are looking for ACL experience. • The ACL User Community is extremely strong and willing to help. • More books have been written using ACL than IDEA or other General Audit Tools. • The TexasACL website.

    24. Disadvantages of ACL • Focus has been on ancillary products • Workpapers • Acerno • Audit Exchange • Importer • No major enhancements from 2003 to 2012 • Most improvements have either failed or • Alienated the user core

    25. What’s in store next year?

    26. ACL/IDEA Biggest Competitor Microsoft Excel 2013 • Advantages • New functions • Autocomplete of pattern recognition • Recommended tables/charts • 2 billion record limit • Disadvantages • Fat finger errors • Affects original data • No log • Issues about effeceincy

    27. What is Arbutus • Grant Brodie • Different direction for company • Broke off in 2003 • ACL to the auditors • Arbutus to IT • Do not compete expires on March 1, 2013 • Very small staff.

    28. Advantages of Arbutus • ACL and Arbutus are fully compatible as of ACL version 7.3 • Arbutus has continued to develop the core product. • Core product does a lot of what people buy AX for.

    29. ACL version 11 • Enhanced abilities to read/load/export files. • Excel • Linking to data • Enhanced debugging capabilities. • Better colorization • Section walk through • Line by line • Enhance procedure capabilities. • Shared scripts • Lock and protect procedures • Callable subroutines

    30. Or was it 15? • Intelligent file deletion. • Temporary file prefix. • Variable/Field arrays. • Many new functions/commands . • FORMAT() • Numerous date/time functions • Enhanced REPLACE(), INCLUDE(), EXCLUDE(), SPLIT()

    31. Arbutus Analyzer • Shared folders. • Reusable print-to-image definitions. • Colorized triggers • “Smart Search”

    32. Disadvantage of Arbutus • Not as well known. • Total staff is around 15 people, can they handle sudden growth if ACL customers leave for Arbutus? • Client base is smaller, so has the software been as well tested?

    33. The year for ACL • Needs to release new upgrades. • Version 10 in April • Promises for upgrades every 6 months • Upgrades must be successful/non-buggy. • Annual Convention in April • Major threat from Arbutus. (Potential threat from IDEA.) • Likely to lose market share

    34. The Year for Arbutus? • Potential market share. • Should grow significantly. • Might capture some IDEA users • Big question is Arbutus itself?

    35. The year for IDEA • Spectator to the Civil War. • Opportunities as companies explore alternatives to ACL? • Potential loss to Arbutus from newer clients who moved to IDEA due to dissatisfaction with ACL. • Could come out ahead or lose ground.

    36. Questions Porter Broyles porter@someclownconsulting.com www.someclownconsulting.com www.texasacl.com 281-948-6678