By : Dhruv Seth
ds@sethspro.com
At today’s workshop
•General Principles of CAAT
•Tools available in Excel
•Excel as a CAAT
Myths with CAAT
Limited 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 CAAT
Volume of Transactions
Audit Trail
Automated Audit Sample
Identifying suspicious
payments
Technique - CAAT
AUDITING AROUND COMPUTER
AUDITING THROUGH COMPUTER
Types of CAAT
Test Data Techniques
Generalized Audit Software
Specialized Software
Capabilities of CAAT
Import data from any format
Statistical Functions
Multidimensional analysis
and exceptional testing
Uses of CAAT
Exception Identification
Control Analysis
Error Identification
How to use CAAT
Identify your goals and
information required
Determine Source, review its
documentation
Get exception reports for
further hard checking
Precautions with CAAT
Identify correct data and
fields
Keep a tab on control totals
Ensure data is represented
correctly & completely.
WHY EXCEL 2007 ?
2007
Vs.
2003
Integration
Conditional
Formatting
File Structure
Stability
WHY EXCEL 2010 ?
2010
Vs.
2007
Slicer
Power Pivot
Temporary save
Printing
Excel Limitations
Integrity of Data
Instability with large data
Number of Line Items
No Batch processing
PREPARING DATA
Opening
OR
Importing
XML file
Database files
(DBF file)
ODBC Linking
FVU Files
Tools - Beginner
Finding numbers as text
Understanding Date format
Combining two cell data
Formula Auditing
Text to column
Tools - Beginner
Sorting & Mathematical
Data Validation and Circle
Invalid Data
Filtering Data
Conditional Formatting
Tools - Intermediate
Automated Sample Selection
Recording Macros
Advanced Conditional
Formatting
Data Tools (Goal seek etc.)
Tools - Intermediate
Matching Data (V-Lookup)
Pivot Charts
Combination of tools
Statistical Tools
Excel as CAAT - Advanced
Benford’s Law
Sampling
Rank Percentile &
Descriptive Statistics
Summarize data
WHY EXCEL ?
EXCEL as
compared to
other tools
such as ACL,
IDEA etc.
User friendly
Highly customized
Availability
Cost
Accounts Payable – Some Tests
Petty Cash Analysis
Stratification Vendor
Payments
Duplicate, Above Average
Employee Vendor match
Accounts Payable – Some Tests
Terms of Payment (TAT)
Excess of Purchase orders
Vendor Master Analysis
Suspicious Payments
Accounts Receivable – Some Tests
Unusual Customer Information
Old 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
General Ledger – Some Tests
Bank Reconciliation
Validating TDS return
Salary payout to log in time
Summarize activity by user
General Ledger – Some Tests
Duplicate Inventory Items
Negative Inventory Items
Overtime payment analysis
Salary payout to log in time
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
By : Dhruv Seth
ds@sethspro.com