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CAATs Considerations for Effective Data and Program Analysis

This session covers considerations for using Computer Aided Audit Techniques (CAATs) for data and program analysis. Topics include cost-benefit analysis, key factors for effective implementation, and scenarios where CAATs are beneficial. Learn how CAATs can enhance audit processes and provide valuable insights.

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CAATs Considerations for Effective Data and Program Analysis

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Presentation Transcript

  1. Considerations for Use of CAATs Session 4

  2. Considerations for use of CAATS • For data analysis • For program analysis

  3. CAATs use for data analysis - Considerations • Formal cost-benefit analysis for use of CAATs in a specific audit environment • Main cost – setting up the CAAT • Fixed cost, broadly independent of volume of data interrogation • Key factors • Repetitive use of CAATs for future audits • High priority nature of audit • Computerisation of core business operations • Manual audit tests are impracticable/ costly

  4. CAATs use for program analysis - Considerations • Key factors • Mission critical application; and • Data analysis cannot be relied upon to provide assurance regarding adequacy and effectiveness of controls

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