Are you using the right IT Tools?

Enterprises leverage power of IT by automation of enterprise processes transforming enterprise data into electronic format. As a CA or Auditor, are you using the right IT Tools for accessing, analyzing and auditing this electronic information to improve your effectiveness and provide value addition? In the digital decade, the need for IT governance/IS assurance services and skills for auditing in a computerised environment is gaining increasing prominence. Increasing pace of deployment of Information technology is making it imperative that AudiITors doing general or specialised audit have practical knowledge of using IT as a tool for drawing inferences and gathering relevant and reliable evidence as per your audit requirements. Why you should use IT as a Tool for audit?

• 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?

The four key benefits of using CAATs software are:

• Align audIT with IT and Business of AudITee
• Provide better assurance to Auditee clients
• Manage audIT risks effectively and efficiently
• Enhance audit performance and productivity by using effective use of IT

Whether you are a general auditor or Information Systems Auditor or aspiring to be one, If you have answered ‘NO’ to any of the above questions, it’s time you recognised the need to have practical knowledge and skill-sets to use CAAT Software to harness the power of IT for audit and provide value addition.

What are CAATs?

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.

 

Why use CAATs? audIT software developed by audITors for audITors for audITing

In an increasingly digitized world, one of the greatest challenges for an Auditor is to use Tools to access, analyze and audIT digITal data. Auditors need to move from ticks to clicks and learn how to harness the IT power. Auditor’s dilemma has always been to find easy-to-use and affordable software for audITing.

Power of IT for audIT

CAATs builds on the core competency and functional knowledge of the auditor and provides easy and independent access to auditee data regardless of the type of platform in which data is stored.

We believe in empowering audITors to harness power of IT to: Access, Analyse and provide Assurance on digital data. Our software solutions have a host of best-of-breed features specially designed for data interrogation and analysis. They will help you to draw the right inference from data and facilitate you to be a more effective and productive knowledge worker. Our solutions will empower you to use IT as a tool to audIT of any digital data, systems and controls.

80% of Internal audit is related to Technology. The expectation from auditors is to provide Assurance at the Speed of the Business

Auditors – both internal and external (whether general or IS) primarily provide assurance to their clients. Although in a dynamic IT environment, the type of business processes and mechanism of their execution are dramatically different, the scope and objectives of audit do not change. However, the challenge for auditors is to keep on evolving their methodology with changing technology. There have been very few affordable IT solutions available for auditors to assist them in auditing an IT environment and even these solutions were expensive and outside the reach of most auditors. Auditors had to still rely on manual methods for providing assurance.

Wincer Infotech Limited is delighted to offer affordable audit software solutions. Wincer is pleased to offer audit software designed to enhance audit productivity and help auditors in providing better assurance and value addition to their clients.