Technology can be a key enabler of enterprise prosperity. We enable professionals to become creative problem solvers. Learn how our solutions have empowered enterprises and professionals.

Our case studies will feature how auditors are using our solutions and services to enhance their productivity and provide value addition. Our case studies will focus on the following questions:

• Are you using the power of IT for audIT?
• Are your audit procedures up-to-date with IT deployment of auditee?
• Are your audit procedures relevant and reliable?
• Do you find Auditing digital information easy?
• Are your audit methodologies effective?
• Are you providing better assurance to your clients?

As Auditor, if you answered ‘NO’ to any of the above questions, we believe it is time for you to explore our solutions and services. Whether you are a general auditor or Information Systems Auditor or aspiring to be a IS Auditor, you will learn how to harness the power of IT for audit and provide value addition.

Use Cases of Software

You can click on the link of the software to read the use cases for each of the software.

Why should Auditors use CAAT?

Computer Assisted Audit Techniques (CAATs) are tools for AudITors, which provide direct access to digital information and facilitate in conducting an effective and efficient audit.

CAATs are a significant tool for audITors to gather information independently.

CAATs can be used in various types of Audits. CAATs provide a means to gain access and to analyze data for a predetermined audit objective and to report audit findings with emphasis on the reliability of records produced and maintained in the system.

The reliability of the source of information used provides reassurance on findings generated. AudITors should have a thorough understanding of CAATs and know where and when to apply them.

AudITors to be effective need to gain practical experience in using CAATs for various Assurance assignments.

 

This list of case studies for various areas provide some practical examples of Test using CAATs:

Sl No	Category	Type Of Analysis
1	Creditors	Payment terms Credit Control Policy Aging of creditors Discount policy Authorised suppliers Authorisation Accounting Supplier classification on purchases Analysis of purchases by period
2	Tax Audit	Identify cash loan\deposits>20000 Identify cash payment > 10000 Review of TDS compliance Analysis of Inventory
3	Financial Audit	Review of Authorisation Review of discount policy Compliance with tax rates like sales tax, excise duty, etc Verification of financial accuracy Aging of debtors
4	Internal Audit	Overall statistical analysis Identification of exception items Duplicate payment for invoices Debtors outstanding beyond credit period Age-wise analysis of debtors Age-wise analysis of inventory
5	Purchases	Duplicate payments Invalid vendors Duplicate invoices Invalid purchases Payments without receipt of goods Inflated prices Excess quantities purchased
6	Payroll	Ghost employees TDS Duplicate direct credits Duplicate home addresses PO Box addresses Work Phone Nos. Work Location Deductions Vacation and sick leave Wage level Terminated employees Overpayment, overtime
7	Aging	Overdue A.R. and A.P. Favorable credit terms Inventory turnover rates Dormant accounts Records with future, blank or otherwise invalid dates Items past a cutoff date Contracts awarded before contract date Transactions outside of billing period Length in days of various activities