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{{Short description|Data analysis software}}
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'''Computer-assisted audit tool''' (CAATs) or '''computer-assisted audit tools and techniques''' (CAATs) is a growing field within the IT audit profession. CAATs is the practice of using computers to automate the IT audit processes. CAATs normally include using basic office [[productivity software]] such as [[spreadsheet|spreadsheets]], [[word processors]] and text editing programs and more advanced software packages involving use [[statistical analysis]] and [[business intelligence]] tools. But also more dedicated [[#Specialized software|specialized software]] are available (see below).▼
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▲'''Computer-assisted audit tool''' (CAATs) or '''computer-assisted audit tools and techniques''' (
CAATs have become synonymous with [[data analytics]] in the audit process.
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===Traditional audit vs CAATTs on specific risks===
Another advantage of CAATTs is that it allows auditors to test for specific risks. For example, an insurance company may want to ensure that it doesn't pay any claims after a policy is terminated. Using traditional audit techniques this risk would be very difficult to test. The auditor would "randomly select" a "statistically valid" sample of claims (usually
Using CAATTs the auditor can select every claim that had a date of service after the policy termination date. The auditor then can determine if any claims were inappropriately paid. If they were, the auditor can then figure out why the controls to prevent this failure. In a real-life audit, the CAATTs auditor noted that several claims had been paid after policies were terminated. Using CAATTs the auditor was able to identify every claim that was paid and the exact dollar amount incorrectly paid by the insurance company. Furthermore, the auditor was able to identify the reason why these claims were paid. The reason why they were paid was because the participant paid their premium. The insurance company, having received a payment, paid the claims. Then after paying the claim the participant's check bounced. When the check bounced, the participant's policy was retrospectively terminated, but the claim was still paid costing the company hundreds of thousands of dollars per year.
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===CAATs Courses===
CAATs are the fundamental tool that is used by the auditors. This tool facilitates them to make search from the irregularities from the given data. With the help of this tool, the auditors and accountants of any firm will be able to provide more analytical results. These tools are used throughout every business environment and also in the industry sectors too. With the help of computer-assisted audit techniques, more forensic accounting with more analysis can be done. It’s really a helpful tool that helps the firm auditor to work in an efficient and productive manner. Working with the CAATs, it is essential for the accountant or the auditor to select the right data, the selection process is very much tricky, and you need to be professional for it. After selecting the right data, import that to the CAATs, now the tool will automatically generate the analytical data. This tool contributes to the efficiency of the auditors. The fundamental course outline <ref>International Computer Auditing Education Association (ICAEA), "CAATs (Computer Assisted Audit Techniques) Courses", {{cite web |url=http://www.iacae.org/English/Training/CAATs_Courses.php |title=
* Computer Auditing Overview
* Legal and Ethical Issues for Computer Auditors
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===Creation of electronic work papers===
Keeping electronic work papers on a centralized audit file or database will allow the auditor to navigate through current and archived working papers with ease. The database will make it easier for auditors to coordinate current audits and ensure they consider findings from prior or related projects. Additionally, the auditor will be able to electronically standardize audit forms and formats, which can improve both the quality and consistency of the audit working papers.
===Fraud detection===
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CAATTs and CAATs are used interchangeably. While CAATs has emerged as the more common spelling, CAATTs is the more precise acronym. The acronym CAATTs solves one of the two problems with defining the acronym. CAATs means:
'''C'''omputer '''A'''ided (or '''A'''ssisted) '''A'''udit '''T'''echniques (or '''T'''ools and '''T'''echniques)
The first "A" and the "T" can have two different meanings depending on who uses the term. By using the term CAATTs, one is clearly incorporating both "Tools" AND "Techniques."
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| [[Easy2Analyse]] || QDAC.net. || 4.3 || 2015-05-15 || [[Windows]] || {{Nonfree|[[Proprietary software|Proprietary]] [[Commercial software|commercial]]}} || {{No}} ||Available in full and auditfiles version
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| Intrasoft Audit Support Computer Audit (Formerly known as ESKORT / SESAM) || Intrasoft International || 7.
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| [[InfoZoom]] || humanIT || 9.0.5 || 2016-11-07 || [[Windows]] || {{Nonfree|[[Proprietary software|Proprietary]] [[Commercial software|commercial]]}} || {{No}} ||
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| [[Interactive Data Extraction and Analysis]] (IDEA) ||
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| TeamMate Analytics (formerly TopCAATs) || Wolters Kluwer || 5.1 || 2017-09-18 || [[Windows]] || {{Nonfree|[[Proprietary software|Proprietary]] [[Commercial software|commercial]]}} || {{No}} || ''Requires [[Microsoft Excel]] (TeamMate Analytics runs within Excel)''
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