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CAAT

CAAT. TOOLS. Presentation By: Vaibhav Bajpai. Example of a Payroll Auditor. An IS AUDITOR performing a payroll review, observed that many of the required validations relating to the salary ranges and admissible allowances and perks were not built-in within the application software. .

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CAAT

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  1. CAAT TOOLS Presentation By: Vaibhav Bajpai

  2. Example of a Payroll Auditor An IS AUDITOR performing a payroll review, observed that many of the required validations relating to the salary ranges and admissible allowances and perks were not built-in within the application software. Management's concerns were • Have any errors or fraud really taken place? • Have we lost any money? • Have we erred in any payroll-related tax compliances? Presentation By: Vaibhav Bajpai

  3. What is CAAT? CAAT refers to: Computer Assisted Audit Technique Techniques are available in form of various tools: • GAP’s (Generalized Audit Package) • Test Data • Application Software Tracing • Mapping • Digital Analysis Presentation By: Vaibhav Bajpai

  4. Why to use CAAT? Due to Increased Audit universe Dependence on IS functions Availability of records in electronic formats It supports audit findings in digital form Why use CAATS? It increases efficiency and accuracy of IS auditors Ability to Provide details for Audit Evidence High volumes of data get examined For 100% sampling Manual test are subject to various risks Presentation By: Vaibhav Bajpai

  5. CASE STUDY CAAT Tool: Digital Analysis

  6. CAAT Tool: Digital Analysis FACTS • Client is a restaurant, operating a bar. • Bar is opened from 8:00 PM to 11:00 PM • No orders are booked without clearing of Kitchen order ticket. USE OF CAATS • IS auditors extracted data from KOT database of client. • Scrutiny revealed 50% KOT’s of sale were made after 11:00 PM • Live shop audit revealed that KOT’s were not prepared at the time of order. Presentation By: Vaibhav Bajpai

  7. Obstacles in Using CAAT? Setup Cost Training Cost Access to Clients Database It supports audit findings in digital form Obstacles in CAATS? Understanding Different Data Structure Ability to download Data from Audit Evidence Data Storage Restrictions Initial Development Of analysis Approach Presentation By: Vaibhav Bajpai

  8. CASE STUDY CAAT Tool: Network Security

  9. CAAT Tool: Network Security FACTS • Client is a manufacturer • Purchase orders were raised by the purchase officers and approved online by purchase manager • Concern is purchase rate being higher than that mentioned in rate master. USE OF CAATS • Logs of amendment module were scrutinized. • It was observed that the PO’s were amended after being approved by purchase managers. • Further scrutiny network logs revealed that amendment to PO’s was possible through login of purchase officers. Presentation By: Vaibhav Bajpai

  10. Few Words ofCaution • First-time deployment of audit software needs to be done with all cautions in place. • Attend immediately to the reluctance of the IS staff. • Solve your differences with management of Auditee regarding access to the production data. Contd… Presentation By: Vaibhav Bajpai

  11. Few Words ofCaution • Invest in training on the audit software. • Training should not be confined to the commands and menus in the software but must include real-life exercises using one of the applications running in the auditee organization. Presentation By: Vaibhav Bajpai

  12. Thank Youfor Your Attention Presentation By: Vaibhav Bajpai vaibhav@rcbajpai.com R.C. Bajpai & Co. www.rcbajpai.com

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