1 / 6

Role of CAATs

Role of CAATs. Session 2. CAATs – A Definition. Computer based tools which can be used to improve the effectiveness and efficiency of the audit process Techniques employed by auditors that use the computer as a tool for gathering and analysing audit data

wagnes
Download Presentation

Role of CAATs

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Role of CAATs Session 2

  2. CAATs – A Definition • Computer based tools which can be used to improve the effectiveness and efficiency of the audit process • Techniques employed by auditors that use the computer as a tool for gathering and analysing audit data • Tools used only for administration of audit not covered in this training module • Use of CAATs results in • Changes in audit methodologies; • NOT in audit objectives

  3. Trends in use of CAATs • Initial use of IT systems by auditees met by “audit around the computer” • Subsequently, “audit through the computer” using CAATs, with benefits in • Audit planning; and • Audit execution

  4. Trends (Contd.) • Changing focus of CAATs use ( in line with changing nature/focus of SAI audit) • Not just financial and compliance audits; • Also performance and investigative audits

  5. Audit Planning – Role of CAATs • Improvement of audit effectiveness • Trends and patterns more clearly visible • Better focus for manual/computerised audit • Ability to play around with data in “free form”, before commencing audit • Especially important for performance and forensic/investigative audits

  6. Audit Execution – Role of CAATs • Improvement of audit efficiency • Better audit coverage • Savings in time and cost • More complex audit interrogations and better analytical capability • Greater opportunities to develop innovative audit approaches

More Related