CAAT’s – Computer Assisted Audit Techniques

Abhinav HansdaAshlesha WaldeDeepali TiwariPriyensha SharmaVikrant Burbure

Software used to perform data extraction and analysis to add on to auditors productivity.

Increases efficiency and effectiveness of auditing function.

Validate Application Integrity Test Data Integrated Test Facility Parallel Simulation

Verify Data Integrity Data extraction and analysis Detect Fraud Continuous Auditing

Steps In CAAT1. Planning2. Request and Import data3. Test Data4. Document Results

WHAT IS CAAT?

Organizations gain assurance about the accuracy of transactional data, and the extent to which business transactions adhere to controls and comply with policies

Consistent use of automated transaction analysis and continuous monitoring, CAATs enable real-time independent testing and validation of critical enterprise data.

CHALLENGES FACED DURING TOOL SELECTION

Make sure you are looking at the right tools to deliver the benefits your company needs

Have a solid knowledge of your business, your data, and the accounting practices in your industry.

It is the user’s responsibility to become familiar with the tools available in order to pick the right one

RECOMMENDATIONS FOR TOOL SELECTION

1. Determine the enterprise’s audit mission, objectives and priorities

2. Determine the types and scope of audits3. Consider the enterprise’s technology

environment4. Be aware of the risks

ACL – AUDIT COLLECTION SERVICES

ACL Services Ltd. is a company based in Vancouver, Canada that provides data analytics, governance, risk management, and compliance (GRC) software, and consulting services in risk and audit management

ACL – AUDIT COLLECTION SERVICES

Solutions: Audit Management Compliance Management Operational Risk ManagementProducts: ACL GRC ACL Analytics ACL Analytics Exchange

ADVANTAGES OF ACL

Data visualization Risk analytics Productivity ecosystem Connect to any data source Independent. Provable. Repeatable. Compare data between business systems

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