it enabled audit tools
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Keyboard
IT Enabled Audit Tools
CA S. Rathinagiri
Erode BranchSIRC of ICAI
28/07/2012
Information Technology
The basicsInformation Data Information
Use of computers
Nature of Business DataText Data
Spatial Data
Independence of Data
Audit
Traditional Way (Around Computers Black Box)Financial Opinion Audit
Operational/Process Audit
Compliance Audit
Hybrid/Integrated (Through Computers White Box)
Fully IT related (With Computers Tool Box?)
Impact of IT
What is changed?
Nature of Data?
Procedures?
Controls?
Risks/Threats/Vulnerabilities/Errors/Frauds?
Volume?
Form?
Mode? Technology?
Advantages of IT Enabled Audit
Effectiveness
Speed
Simplicity
Control over the audit
Avoidance of monotonous and redundant job
Reliance
Audit Templates
Problems/Limitations
Computers are supposed to solve problems but many times they ARE the problems.
Less integration of the systems turns out to MORE problems
Not cost effective
Documentation
IT knowledge of auditors/staff
Problems in test data and year change over.
Audit Tools
Application SoftwareRegular Reports/Special Reports/Exceptional Reports etc.,
Electronic Spreadsheet Software
Audit Tools Software likeACL (Audit Command Language)
IDEA (Interactive Data Extraction and Analysis)
OLAP, BI, Data mining Tools
Features of Audit Tools
ETL
Creating a Trail of Audit Trails
Electronic Working Papers
Test Data creation
Several Scientific methods of Sampling
Aging analysis of data
Features of Audit Tools Contd.
Finding of Exceptional DataIdentifying Gaps
Duplicates
Summarising and stratifying (arrange/index/sort) data
Graphical representation of data
Export of results
Approach to IT audit
Updating IT knowledgeManual/Help available with the software
Googling/Yahooing
Forums
Various other resources like slideshares, e-books etc.,
Approach to IT Audit cont.
Usage of tools availableSpreadsheet (Excel/Openoffice/Libre Calc)Formulas
Functions
Macros
Data Import and analysing facilitiesSorting
Filtering
Pivot Tables
Approach to IT Audit contd.
Goal Seeking
Scenarios
Charts
Dependencies and Precedents
Sub-total
Database Software (Access/Base/SQL software)Summarise, Sort, Filter, Compare, Join
Simple English like Language
ETL
Novel Approach Data Mining Tools
Rapid MinerOpen source
Free
Easy to adapt
Data mining Tools cont.
PentahoOpensource
Business Intelligence
Data Analytics
What the heck?!
Don't over do
Expect the unexpected
Use the unusual
Think, think, ponder, ponder and
Be a volcano
Any questions?
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