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At today’s workshop
•General Principles of CAAT
•Tools available in Excel
•Excel as a CAAT
Myths with CAATLimited knowledge of computers, software, etc.
My accounts are perfect since they are computerized
Introduction - CAAT
What are
CAAT ?
C - Computer
A - Assisted
A - Auditing
T - Techniques
Why CAATVolume of Transactions
Audit Trail
Automated Audit SampleIdentifying suspicious payments
Technique - CAAT
AUDITING AROUND COMPUTER
AUDITING THROUGH COMPUTER
Types of CAAT
Test Data Techniques
Generalized Audit Software
Specialized Software
Capabilities of CAATImport data from any format
Statistical Functions
Multidimensional analysis and exceptional testing
Uses of CAAT
Exception Identification
Control Analysis
Error Identification
How to use CAATIdentify your goals and information requiredDetermine Source, review its documentationGet exception reports for further hard checking
Precautions with CAATIdentify correct data and fields
Keep a tab on control totalsEnsure data is represented correctly & completely.
UNDERSTANDING EXCEL
2007
Vs.
2003
WHY EXCEL 2007 ?Integration
Conditional FormattingFile StructureStability
2010
Vs.
2007
WHY EXCEL 2010 ?Slicer
Power Pivot
Temporary save
Printing
Excel LimitationsIntegrity of Data
Instability with large data
Number of Line Items
No Batch processing
PREPARING
DATA
Opening OR
Importing
PREPARING DATAXML fileDatabase files (DBF file)ODBC Linking
FVU Files
TOOLS AVAILABLE IN EXCEL
BEGINNER
TOOLS
Tools - BeginnerFinding numbers as textUnderstanding Date formatCombining two cell data
Formula Auditing
Text to column
Tools - BeginnerSorting & MathematicalData Validation and Circle Invalid Data
Filtering Data
Conditional Formatting
INTERMEDIATE
TOOLS
Tools - IntermediateAutomated Sample Selection
Recording Macros
Advanced Conditional FormattingData Tools (Goal seek etc.)
Matching Data (V-Lookup)
Pivot Charts
Combination of tools
Statistical Tools
Tools - Intermediate
ADVANCED
TOOLS
Benford’s Law
Sampling
Rank Percentile & Descriptive Statistics
Summarize data
Excel as CAAT - Advanced
USE OF EXCEL as CAAT
WHY EXCEL
AS
CAAT ??
EXCEL as compared to other tools such as ACL, IDEA etc.
WHY EXCEL ?
User friendly
Highly customized
Availability
Cost
APPLICATION OF TOOLS
ACCOUNTS
PAYABLE
Petty Cash Analysis
Stratification Vendor PaymentsDuplicate, Above AverageEmployee Vendor match
Accounts Payable – Some Tests
Terms of Payment (TAT)Excess of Purchase ordersVendor Master Analysis
Suspicious Payments
Accounts Payable – Some Tests
ACCOUNTS
RECEIVABLE
Unusual Customer InformationOld Pending Invoices
Invoice Date with Shipping Date
Suspicious Invoicing
Accounts Receivable – Some Tests
Shipping to Invoice Quantity
Average Realizations
Ordering vis-à-vis Invoicing
Subsidiary Sales
Accounts Receivable – Some Tests
GENERAL
LEDGER
Bank Reconciliation
Validating TDS return
Salary payout to log in timeSummarize activity by user
General Ledger – Some Tests
Duplicate Inventory Items
Negative Inventory Items
Overtime payment analysisSalary payout to log in time
General Ledger – Some Tests
Maximizing Excel
Helpful tools of Excel
Learn Shortcuts
XLS start folder
Speech function
Page Layout view
Helpful tools of Excel
Macro Recording
Copying & Editing macro
Mail Merge with word
Add-ins
Helpful tools of Excel
Printing
Customizing Excel with options
Inserting Objects
