Computer-aided audit tools: Difference between revisions

Revision as of 02:24, 4 June 2005

Revision as of 04:59, 4 June 2005

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Data analysis is the means by which the Information Systems auditor determines the completeness and accuracy of an organization’s data. Auditors perform data analysis to determine where it is best to focus audit tests.

Along with manual audit procedures, the auditor can employ *[http://www.isaca.org/Content/ContentGroups/Standards2/Standards,_Guidelines,_Procedures_for_IS_Auditing/IS_Auditing_Guideline_G3_Use_of_Computer-Assisted_Audit_Techniques1.htm computer assisted auditing tools and techniques (CAATT’s)] to perform data analysis throughout the audit engagement. Generalized Audit Software (GAS), also known as Data Analysis Software, is the most popular form of CAATT used in the data analysis process.

==='''Data Analysis Process'''===

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===='''''Data Analysis Software'''''====

The most popular form of CAATTs, *[http://www.isaca.org/Content/ContentGroups/Member_Content/Journal1/20033/Using_CAATs_to_Support_IS_Audit.htm data analysis software] is used to extract data from commonly used file formats and the tables of most database systems. This audit software can perform a variety of queries and other analyses on an organization’s data.

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CAATTs can assist the auditor in detecting fraud by performing and creating the following, respectively:

#<u>''Analytical Tests''</u> &#8211; evaluations of financial information made by studying plausible relationships among both financial and non-financial data to assess whether account balances appear reasonable (AU 329). Examples include ratio, trend, and *[http://www.nist.gov/dads/HTML/benfordslaw.html Benford's Law]tests.

#<u>''Data Analysis Reports''</u> &#8211; reports produced using specific audit commands such as filtering records and joining data files.

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*<u>'''Information Technology Control and Audit'''</u>; Frederick Gallegos, Sandra Senft, et. al; ''2nd Edition'' ISBN 0-8493-2032-1

*'''Audit Tools''' *[http://www.theiia.org/itaudit/index.cfm?fuseaction=print&fid=320 Use of Computer-Assisted Audit Tools and Techniques (CAATTs), Part 1]

*'''Audit Tools''' *[http://www.theiia.org/itaudit/index.cfm?fuseaction=print&fid=320 Use of Computer-Assisted Audit Tools and Techniques (CAATTs), Part 2]