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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.
Functions an auditor can perform using the software include:
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*Statistical analysis.
*Calculations.
The following are types of query and analysis tools used by auditors while performing data analysis.
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*'''Excel''' – Spreadsheet software that provides analysis, calculation, graphing, and reporting.
*'''CA-Examine''' – A programming language that provides data selection, analysis, and reporting. Additional programming languages include: CA-Easytrieve, Vbasic, C, C++, JAVA, SQL, Perl, SAS, and SPSS.
*'''SAS Base''' – A business intelligence platform that is sometimes used for
*[http://www.categoric.com Categoric] Continuous Auditing technology. Connects to anything and provides real time monitoring of controls and KPIs
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In addition to using data analysis software, the auditor utilizes CAATT's throughout the audit for the following activities while performing data analysis:
*'''<u>Creation of Electronic Work Papers</u>'''
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.
*'''<u>Fraud Detection</u>'''
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#<u>''Analytical Tests''</u> – 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> – reports produced using specific audit commands such as filtering records and joining data files.
*'''<u>Continuous Monitoring</u>'''
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Additionally, the auditor can install audit procedures into their audit software called embedded audit routines, which can continuously capture and analyze an application’s processing results. The audit routines can capture transaction data, statistics, and continuously evaluate the organization’s computer system for processing errors. For example, evaluating whether fields that should only have alpha characters have no null data values and amount fields have no alpha characters.
*'''<u>Audit Reporting</u>'''
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#Providing links to working papers, worksheets, graphs, or other information that will be automatically updated as data changes.
#Report files can be shared by audit team members and management, and can easily be distributed via e-mail, file transfer, or audit website. The auditor must ensure appropriate security, confidentiality, and access controls for such reports.
== Note on the Acronyms CAATTS vs CAATS==
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