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Role of CAATs

Learn about the role of Computer-Assisted Audit Techniques (CAATs) in audit planning and execution, improving effectiveness, efficiency, and coverage. Explore trends, benefits, and opportunities for innovative approaches.

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Role of CAATs

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  1. Role of CAATs Session 2

  2. CAATs – A Definition • Computer based tools which can be used to improve the effectiveness and efficiency of the audit process • Techniques employed by auditors that use the computer as a tool for gathering and analysing audit data • Tools used only for administration of audit not covered in this training module • Use of CAATs results in • Changes in audit methodologies; • NOT in audit objectives

  3. Trends in use of CAATs • Initial use of IT systems by auditees met by “audit around the computer” • Subsequently, “audit through the computer” using CAATs, with benefits in • Audit planning; and • Audit execution

  4. Trends (Contd.) • Changing focus of CAATs use ( in line with changing nature/focus of SAI audit) • Not just financial and compliance audits; • Also performance and investigative audits

  5. Audit Planning – Role of CAATs • Improvement of audit effectiveness • Trends and patterns more clearly visible • Better focus for manual/computerised audit • Ability to play around with data in “free form”, before commencing audit • Especially important for performance and forensic/investigative audits

  6. Audit Execution – Role of CAATs • Improvement of audit efficiency • Better audit coverage • Savings in time and cost • More complex audit interrogations and better analytical capability • Greater opportunities to develop innovative audit approaches

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