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Considerations for Use of CAATs

Considerations for Use of CAATs. Session 4. Considerations for use of CAATS. For data analysis For program analysis. 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

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Considerations for Use of CAATs

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  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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