This presentation provides a brief overview of eCAAT Pro with use cases. eCAAT Pro is a Data Analytics/BI software specially designed for CA Firms and their teams to perform Data Analytics/BI in the assignments of Assurance, Compliance and Fraud Investigations.
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Intro of key features of eCAAT Pro Software
1. Intro of Key Features of eCAAT
Pro Version
Data Analytics in Excel in a few Clicks!
For CA and their Teams
https://www.wincaat.com
2.
3. Global Leading Solution Provider in Data Analytics
for Empowering Professionals to realise potential
by Applying Thought to Technology.
Revolutionize Assurance, Compliance and
Consulting Services by Providing
Powerful Tools & Techniques
for Performing Data Analytics, BI and AI.
4. With Innovative Software Solutions,
We Empower CAs & CXOs to Harness:
Power of
Technology to
Provide Value
Addition through
IT-Enabled Service
offerings.
Subject Matter
Expertise and
Domain Knowledge
to Provide Existing
and Innovative
Services.
Professional
Potential to Provide
Value Addition as
Knowledge Workers
and be more
Effective and
Productive.
5. Higher use of Technology.
Greater Value Addition and
Serve your Clients in Shorter Time with
Deploying Systems and Solutions for Scaling up Services for
Empowering you to:
8. Add-in to MS
Excel Software
Easy to use and
Simple to Learn
Look & Feel of
MS Excel but
with power of
Database
Powerful Data
Analytics with
> 140 Functions
Designed for CA
and their teams
Perform
Complex
Analysis in a
Few clicks with
Auto
Documentation
Why use eCAAT Pro?
Data Analytics Simplified
for CA Firms
9. eCAAT Pro: Add-in to MS Excel
Data Analytics Simplified for CA Firms
Designed from Assurance/Controls & Compliance perspective
Identify irregularities, exceptions, outliers & verify compliances in digital data for CAs and their teams.
Empowers users to perform various types of audit tests on Excel data in a few clicks!
Easy-use-to-use interface with a comprehensive collection of DA/BI functions.
Blends simplicity of MS Excel with the power of data from Database!
Inbuilt data analytics approach and steps in the panels, menus and functions of software
Curate, profile, analyse, explore, investigate data based on specified criteria.
22. What can you do with Data Analytics/BI Software?
Establish Facts & Issues
Explore Hunches & Ideas
Draw Inferences & Insights
Validate & Confirm Hindsight
Report Findings & Recommendations
23. What is eCAAT Pro?
• Developed by Auditors for Auditors to
Audit any Digital Data.
• Expert team-effort of > 25 man-years.
• Add-in to MS Excel as a new tab
• Use in any Assurance, Compliance,
Analytics or BI Assignment.
• Right blend of Simplicity.
• Ease of Use with Few Clicks.
• Ready for use with Min. Training.
24. What can you do
with eCAAT Pro?
24
PERFORM
Data Analysis
for
Compliance,
Assurance,
BI or Fraud
Investigation
25. Who can use eCAAT?
• Auditors: Financial, Compliance or IT, CXOs, Fraud/Forensics
investigator….
Those who are working as:
• Infer Insights from Information from any electronic format or
software!
Those who have to use Data
Analytics to:
• Enhance skills, grow in their career and be more effective.
Those who would like to:
• Use IT Tools and skills for accessing, analysing and auditing
electronic information.
Those who have to:
• Supplement their Knowledge and Skills to provide value addition
Those who have to:
• Investigate and report on frauds in electronic information of
automated environment.
Those who have to:
28. Why use eCAAT?
Comprehensive tool
to audit 100% of
the data.
Empower your
audit staff at
affordable cost.
Do more in less
time by enhancing
your productivity.
Easy to learn and
simple to use.
Perform analysis to
draw inference and
insight.
Power to process
complex files
quickly with a few
clicks.
Designed for new,
inexperienced and
expert CAATs users.
Integrated as a tab
in MS Excel but
with innate power
of database.
Grow professionally
empowered by
Technology.
30. Seven Key Benefits of using eCAAT
1. Enhance your Skills and Tools
2. Increase Productivity of your Time
3. Provide Better Assurance & Add Value
4. Grow your Professional Team & Esteem.
5. Accelerate your Income Earning capability.
6. Develop empowering Reach & Impact.
7. Gain recognition as a Thought Leader.
31. Data Analytics:
MS Excel Vs. eCAAT
•Time-saver:
•Enhanced use of
MS Excel
•BI & MIS
•On the fly
•Data Analytics
•In a few clicks
Multi-dimensional:
Set of Tools
32. Do MORE in less Time!
32
Data Analytics
Empowers
Professionals of
Accounting,
Assurance,
Compliance,
BI, Fraud
Investigators to:
35. Seven Steps for using eCAAT Pro for Data Analytics
Remember eCAAT Pro can perform function & display results but user must select
right function/fields to get right results & draw insights from results.
Review Review Field Formats and change it to required format if required.
Delete Delete fields which are not relevant for audit and fields with only one
common value as no analytics is possible on this.
Document Document field description and related business process/validation rules.
Perform Perform harmonize sheet to get data and headers in right format for
analysis. Close all other MS Excel files except file required for analysis.
Make Make copy of the files and perform analysis only on copy of file.
Get Get Data Ready for Data Analytics.
36. Data Analytics in 4 Steps
1.Understand
Business Process
Controls
2. Identify
Information Criteria
for Evaluation
3. Use Specific Tools
and Techniques
from eCAAT Pro
4. Analyse & Report
as required with
Value Addition
36
37. 3 Distinct Users of eCAAT Pro
Auditors
Find answers to audit questions
Is management reporting
accurate sales,
are payables complete, etc.?
Trust but verify
Fraud
Investigators
Identify possibilities of fraud
Where is the evidence of fraud
Where is the audit trail, etc.
Management
How can I better manage my
business?
Have we reported all sales,
payables, receivables, expenses
and compliances correctly, etc.
40. Panels Brief Descriptions of Panels in eCAAT Pro
Curate Curate refers to transforming data in a standard structure to be usable for data analysis as
required. Curation of data ensures that data is formatted and purified for use in data
analytics.
Profile Data profiling refers to the act of analysing the data contents to get an overall perspective
of data. This helps in validating data at a macro level and assessing whether the data is
correct and complete.
Analyse Analyse refers to examining the data in detail to discover essential features by breaking
data into specific components by grouping, identifying and reviewing specific features.
Investigate Investigate refers to observing or inquiring the data in detail. This involves systematic
examination of data by making a detailed inquiry or search to discover facts and insights to
be able to come to a conclusion.
Document Documentation refers to recording critical steps of data analytics. The functions in this
panel help document the steps used during data analytics.
Utilities Provides unique functions which complement and enhance the use of Excel and are great
time-savers.
Tools Provides Tools to rerun tasks performed, perform last performed task & Search & Run
specific functions.
41. Curate Data
• Specific Features:
• Remove
• Transform
• Format
Transform data in
a standard
structure to be
usable for data
analysis as
required to
ensure that data
is formatted and
purified for use in
data analytics.
42. Profile Data
• Specific Features:
• Statistics
• Stratify
• Summarise
Analyse the data
to get an overall
perspective of
data. Validate data
at a macro level to
assess whether
the data is correct
and complete.
43. Analyse Data
• Specific Features:
• Duplicates
• Identify
• Filter
Examine the data in
detail to discover
essential features
by breaking data
into specific
components by
Grouping,
Identifying and
Reviewing.
44. Investigate Data
• Specific Features:
• Compare
• Analysis
• Explore
Observe or query the
data in detail through:
1. Systematic examination
2. Make a detailed inquiry
or search
3. Discover facts & insights
to arrive at a conclusion.
45. Relate
• Specific Functions:
• Append Files
• Quick Join
• Join Files
• 3-Way matching
• Consolidate Columns
• Validate Date
• Validate Totals
• Validate Duplicates
Provides functions to
join, append or
compare data in two
worksheets on specific
criteria.
It also has functions
for 3-way matching
and consolidate
columns.
46. Sampling
• Specific Features:
• Selection Menu
• Criteria Menu
• Profile Menu
• Analysis Menu
Extract
specific
samples from
the population
based on
specified
criteria.
47. Utilities
• Specific Features:
• Columns Menu
• Split Sheet Menu
• Hide/Unhide Menu
Provides unique
functions which
complement and
enhance the use
of Excel and are
great time-savers.
48. Document
• Specific Features:
• Index
• Log
• Test Data
Documentation
refers to recording
critical steps of
data analytics. The
functions in this
panel help
document the steps
used during data
analytics.
49. Tools
• Specific Features:
• Rerun
• Refresh
• Search & Run
Tools provides
functions to rerun
tasks performed,
perform last
performed task &
Search & Run
specific
functions.
62. Generic Use Case of eCAAT Pro:
What can you do with it?
Add-in to MS Excel Software which is
designed from Assurance, Controls and
Compliance perspective to Identify
Irregularities, Exceptions, Outliers,
Verify Conformances and Compliances
and generate BI/MIS reports from
Digital Data.
Specially designed for CA firms and
their Teams.
Easy to use and Simple to Learn which
enables users to perform various types
of audit tests on Excel data in a few
clicks! Perform Complex Analysis in a
Few clicks with Auto Documentation.
Look & Feel of MS Excel but with
power of Database which blends
simplicity of MS Excel with the power
of Data from any Database!
Easy-use-to-use interface with a
comprehensive collection of >130
Powerful Functions useful for Data
Analytics, Business Intelligence and
Fraud Investigation.
Inbuilt data analytics approach and
steps in the panels, menus and
functions of software to curate, profile,
analyse, explore, investigate data
based on specified criteria.
Makes Data Analytics Simple, Effective,
Affordable with short learning curve.
Most reliable & relevant DA Software
for CA Firm and their Team and also for
CXOs and Fraud Investigators.
63. Generic Use case of eCAAT Pro:
Walk-through of Functions
• eCAAT Pro is add in software
to MS Excel. The user must
import the data from any of
the multiple formats into
Excel and then select and
perform any of the more than
140 Functions.
• These functions enable to
user to perform analytics in
a few clicks.
• User has a quick walk-
through of the Tabs which
include:
• Curate
• Profile
• Analyse
• Investigate
• Relate
• Templates
• Sampling
• Utilities/Documents/Tools
64. Generic Use
case of
eCAAT Pro:
User has
walk-through
of the various
powerful
functions
available in
Menus of:
• Remove
• Transform
• Format
• Statistics
• Stratify
• Summarize
• Duplicates
• Identify
• Filter
• Compare
• Analyse
• Explore
• Join Files
• Selection
• Criteria
• Profile
• Analysis
• Templates
• Columns
• Split Sheet
• Hide/Unhide
• Index/Log
65. Generic Use
Case of
eCAAT Pro:
Understand
Relevant
Functions
• The user selects the relevant functions in the Curate
Menu to transform data in a standard structure to be
usable for data analysis as required. The various
functions of curate enable user to format and purify the
data so that it is easy to perform analysis of data as
required.
• The user selects the relevant functions in Profile Menu
to analyse the data to get an overall perspective of
data. This enables the user to validate data at a macro
level and in assessing whether the data is correct and
complete.
• The user selects the relevant functions in Analyse Menu
to examine the data in detail to discover essential
features by breaking data into specific components by
grouping, identifying and reviewing specific features.
• The user selects the relevant functions in the
Investigate Menu which empower the user to observe
or inquire the data in detail with systematic
examination by making a detailed inquiry or search to
discover facts and insights and to infer insights.
66. Generic Use
Case of
eCAAT Pro:
Understand
Relevant
Functions
• The user selects the relevant functions in the Relate
Menu which provides options to join, append or
compare data in two tables based on specific criteria.
• The user selects the relevant functions in the Sampling
Menu which provides options to displays specific no.
of selected records based on specific criteria such as
Interval, Numbers or Top 'X' (Group By).
• The user selects the relevant functions in the
Templates Menu to Provides option to perform selected
functions of eCAAT Pro on multiple
workbooks/worksheets at one go.
• The user selects the relevant functions in the
Documents Menu to record critical steps of data
analytics.
• The user selects the relevant functions in
Utilities/Tools Menu to perform unique functions
which complement used of Excel and to rerun tasks
performed, perform last performed task and auto open
specified workbooks.
67. Generic Use case of eCAAT Pro: Key Benefits
The user gets practical exposure of
how eCAAT Pro Software provides
independent access to auditee
data and makes Data Analytics
Simple, Effective and use the
powerful features with minimal
training.
Specially designed for CA Firms
and their Teams.
The user imports the data from
different formats and then
perform various types of audit
tests as required.
The user discovers that it is not
necessary to depend on IT
personnel to get reports instead
he/she requests for data in
required format to be exported to
Excel using which the user
performs analysis as required.
Using eCAAT Pro, the user
specifically Identifies Irregularities,
Exceptions, Outliers and does
further analysis as required and
reports the relevant findings and
recommendations with the
evidence, to management.
The auto documentation feature
records date and time stamp for all
the functions performed so that it
can be used as record of work
done and to re-perform as and
when required.
The user finds that eCAAT Pro
Software can be used for various
types of assignments such as
Assurance, Verifying Controls and
Validating Conformances with
Statutory Regulations as required.
You can see the Complete List of Functions with Brief Description at:
https://wincaat.com/Features_eCAATPro/Functions.aspx
69. Control Objectives: Fixed Assets
• Fixed Asset registers vary in detail of information and volume of records.
In enterprises with significant volumes of records, auditors can use Data
Analytics to perform various kind of analysis on the list of Fixed Assets.
Fixed Asset
Register
• i. Whether the company maintains proper records showing full particulars
including details of quantity and situation of the fixed assets
Maintenance of
Records
• ii. Whether physical verification of the fixed assets is conducted by the
management at reasonable intervals
Physical
Verification
• iii. If any material discrepancies were noticed on physical verification,
whether it has been accounted for in books of accounts
Accounting of
Discrepancies
70. Illustrative Control Objectives to Test using Data Analytics Financial Assertions
Fixed asset acquisitions are accurately recorded. Valuation
Fixed asset acquisitions are recorded in the appropriate period. Valuation
All fixed asset acquisitions are recorded. Completeness
All fixed asset disposals are recorded. Existence
Fixed asset disposals are accurately calculated and recorded. Valuation
Fixed asset disposals are recorded in the appropriate period. Valuation
Records of fixed asset maintenance activity are accurately maintained. Completeness
Fixed asset maintenance activity records are updated in a timely manner. Completeness
Only valid changes are made to the fixed asset register and/or master
file.
Completeness Existence
All valid changes to the fixed asset register and/or master file are input
and processed.
Completeness Existence
Changes to the fixed asset register and/or master file are accurate. Valuation
Changes to the fixed asset register and/or master file are promptly
processed.
Completeness Existence
Fixed asset register and/or master file data remain up to date. Completeness Existence
71. Sample Areas for Review in Fixed Assets
List of Fixed Asset with all details.
Fixed Assets With Book Value of Zero.
Fixed Assets With No Depreciation.
Sample Of Fixed Assets for Physical Verification.
Fixed Assets with/without Annual Maintenance Contracts.
Fixed Assets insured/Not Insured.
72. Area: List of Fixed Assets
• The fixed assets listing provides a summary
of all assets held within an enterprise.
Context
• Lack of fixed asset register management and
maintenance could result in loss of assets.
Risk
• Extract a current listing of fixed assets.
Procedure
• Extracts a current listing of all fixed assets
from the system as required for audit.
Analytic Logic
73. Area: Fixed Assets With Zero Book Value
• Fixed assets listed with zero book value are indicative of assets
that have incorrect useful lives and/or are incorrectly valued.
Context
• Assets are incorrectly valued or have incorrect useful lives.
Risk
• Identifies all fixed assets with a book value of zero.
Procedure
• Extracts fixed assets in the system with a book value of zero
(where cost including revaluation equals accumulated
depreciation).
Analytic Logic
74. Area: Fixed Assets With No Depreciation
• Depreciation shows a reduction in the value of an asset over time, as the
asset is used in the business.
• Depreciation methods should be aligned to accounting standards and
applied consistently every year.
Context
• Contravention of accounting standards and overstatement of the
balance sheet.
Risk
• Identifies all fixed assets with no depreciation.
• Note: Certain fixed assets such as investment property, land, and assets
under construction are not depreciable assets.
• These asset classes should be excluded for purposes of this analytic.
Procedure
• Extracts all those assets with zero accumulated depreciation.
Analytic Logic
75. Area: Sample Of Fixed Assets For Physical Inspection By Audit
• Physical inspection of assets verifies the existence of the assets. It also
assists with confirming the condition of the asset to validate its valuation.
Context
• Non-existence of assets listed on the fixed asset register.
Risk
• Generates a sample of fixed assets for physical inspection by audit.
Procedure
• Extracts a random sample of fixed assets using random sampling
method or stratified random sampling method using software.
Analytic Logic
76. Area: Fixed Assets with/without Annual Maintenance Contracts
• All Fixed Assets of significant value and usage should
have annual maintenance contract so that it is
maintained by the vendor if there is breakdown.
Context
• Lack of AMC for the fixed assets will impact continuous
availability of fixed assets for use and the unexpected
cost of maintenance in case of breakdowns.
Risk
• Generate a list of fixed assets from fixed asset register
and extract the list of fixed assets with AMC to identify
assets which do not have AMC.
Procedure
• Extract a sample of fixed assets based on materiality to
verify whether AMC is available for all assets of
significant value and usage.
Analytic Logic
77. Area: Fixed Assets with/without Insurance
• All Fixed Assets of significant value and usage should
have relevant insurance coverage as required.
Context
• Not having Insurance will cause financial loss in case of
incident causing loss to asset due to various risks.
Risk
• Generate a list of fixed assets from fixed asset register
and compare with the list of fixed assets which are
insured and the insurance coverage.
Procedure
• Extract a sample of fixed assets based on materiality to
verify whether Insurance is valid and available for all
assets of significant value and usage.
Analytic Logic
78. Specific Use Case: Fixed Assets
Sample CAAT Queries Performed
1. Recompute totals for cost, depreciation
and net book values and verify with
actuals.
2. Recalculate depreciation figures and
verify with actuals
3. Recompute totals of additions match with
actuals
4. Recompute the value of assets disposed
with realized/book value and verify
whether profits or losses are correctly
computed and accounted.
5. Identify items with a large net book value
6. identify whether standard rate of
depreciation has been applied as per
asset category.
7. Verify whether the date of
purchase/installation and date used for
computation of depreciation are matched.
9. Identify assets transferred or acquired
from group companies and assess the
impact on materiality/reporting.
10. Identify items with zero or negative cost
and items where depreciation exceeds
cost
11. Identify fully depreciated items and
assets with zero value
12. Verify whether the same fixed asset has
been accounted twice based on invoice
value/supplier name.
13. Compare book and tax depreciation and
identify variances
14. Compare actual cost to budgeted cost to
highlight any significant variances
15. Compare useful lives of assets by
category and check whether correct rate
of depreciation has been applied..
78
79. Add-in to MS
Excel Software
Easy to use and
Simple to Learn
Look & Feel of
MS Excel but
with power of
Database
Powerful Data
Analytics with
> 140 Functions
Designed for CA
and their teams
Perform
Complex
Analysis in a
Few clicks with
Auto
Documentation
Why use eCAAT Pro?
Data Analytics Simplified
for CA Firms
80. Thank you!
Email: sales@wincaat.com
Watch videos of demo of specific functions of eCAAT
Intro to eCAAT: (https://www.wincaat.com/Products/eCAATEnt.aspx)
Webinar Recordings of eCAAT
(https://www.wincaat.com/Training/Webinars.aspx#eCAATWebinars)