IT Enabled Audit Tools
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IT Enabled Audit Tools
- 1. IT Enabled Audit Tools CA S. Rathinagiri Erode Branch SIRC of ICAI 28/07/2012 http://www.rathinagiri.in srgiri@dataone.in
- 2. Information Technology The basics Information → Data → Information Use of computers Nature of Business Data Text Data Spatial Data Independence of Data http://www.rathinagiri.in srgiri@dataone.in
- 3. 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?) http://www.rathinagiri.in srgiri@dataone.in
- 4. Impact of IT http://www.rathinagiri.in srgiri@dataone.in
- 5. What is changed? Nature of Data? Procedures? Controls? Risks/Threats/Vulnerabilities/Errors/Frauds? Volume? Form? Mode? Technology? http://www.rathinagiri.in srgiri@dataone.in
- 6. Advantages of IT Enabled Audit Effectiveness Speed Simplicity Control over the audit Avoidance of monotonous and redundant job Reliance Audit Templates http://www.rathinagiri.in srgiri@dataone.in
- 7. 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. http://www.rathinagiri.in srgiri@dataone.in
- 8. Audit Tools Application Software Regular Reports/Special Reports/Exceptional Reports etc., Electronic Spreadsheet Software Audit Tools Software like ACL (Audit Command Language) IDEA (Interactive Data Extraction and Analysis) OLAP, BI, Data mining Tools http://www.rathinagiri.in srgiri@dataone.in
- 9. 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 http://www.rathinagiri.in srgiri@dataone.in
- 10. Features of Audit Tools – Contd. Finding of Exceptional Data Identifying Gaps Duplicates Summarising and stratifying (arrange/index/sort) data Graphical representation of data Export of results http://www.rathinagiri.in srgiri@dataone.in
- 11. Approach to IT audit Updating IT knowledge Manual/Help available with the software Googling/Yahooing Forums Various other resources like slideshares, e-books etc., http://www.rathinagiri.in srgiri@dataone.in
- 12. Approach to IT Audit – cont. Usage of tools available Spreadsheet (Excel/Openoffice/Libre Calc) Formulas Functions Macros Data Import and analysing facilities Sorting Filtering Pivot Tables http://www.rathinagiri.in srgiri@dataone.in
- 13. 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 http://www.rathinagiri.in srgiri@dataone.in
- 14. Novel Approach – Data Mining Tools Rapid Miner Open source Free Easy to adapt http://www.rathinagiri.in srgiri@dataone.in
- 15. http://www.rathinagiri.in srgiri@dataone.in
- 16. Data mining Tools – cont. Pentaho Opensource Business Intelligence Data Analytics http://www.rathinagiri.in srgiri@dataone.in
- 17. http://www.rathinagiri.in srgiri@dataone.in
- 18. What the heck?! Don't over do Expect the unexpected Use the unusual Think, think, ponder, ponder and Be a volcano http://www.rathinagiri.in srgiri@dataone.in
- 19. Any questions? http://www.rathinagiri.in srgiri@dataone.in
- 20. http://www.rathinagiri.in srgiri@dataone.in