Question Tag: CAATs

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AAA – Nov 2016 – L3 – Q4b – Audit of IT Systems and Data Analytics

Identify solutions to address the loss of an audit trail in computer-assisted or manual testing.

Question

The availability of Computer-Assisted Audit Techniques should be considered by the Auditor when planning the nature, extent, and timing of tests in an audit. The Auditor must determine their testing strategies, which will depend on their choice of either using a Manual Testing Method or a Computer-Assisted Method.

Required:
Identify FIVE solutions to the loss of an audit trail. (5 Marks)

Answer

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Tags: Audit Planning, Audit trail, CAATs, Loss of Data, Testing strategies
Level: Level 3

Topic: Audit of IT Systems and Data Analytics

AAA – Nov 2016 – L3 – Q4a – Audit of IT Systems and Data Analytics

Evaluate the advantages and disadvantages of test data and audit software for compliance and substantive testing.

Question

You have been appointed as the Auditor of a company whose accounting transactions are processed using a computer. You have decided to use Computer-Assisted Audit Techniques (CAATs) to generate evidence for the audit assignment.

Required:
i. State FOUR advantages and THREE disadvantages of using test data in compliance testing of application controls. (7 Marks)
ii. List FOUR activities for which audit software may be used to perform substantive tests by the auditor. (4 Marks)
iii. List TWO advantages and TWO disadvantages of the use of audit software. (4 Marks)

Answer

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Tags: Application Controls, Audit Software, CAATs, Compliance Testing, Substantive Testing, Test Data
Level: Level 3

Topic: Audit of IT Systems and Data Analytics

AAA – Nov 2021 – L3 – Q3b – Audit of IT Systems and Data Analytics

Discuss audit team activities using CAATs on client premises and analyze two types of audit software.

Question

You have been appointed as the auditor of a company that processes its accounting functions using a computer system. You have decided to use computer-assisted audit techniques (CAATs) to generate necessary audit evidence for this engagement.

Required:

i. Discuss the activities members of the audit team could perform with their computers in the client’s office. (4 Marks)

ii. Analyze TWO types of audit software in use in computer-based information systems. (4 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit evidence, Audit Software, CAATs, Computer-based audit, Data Analysis, IT Audit
Level: Level 3

Topic: Audit of IT Systems and Data Analytics

AAA – Nov 2021 – L3 – Q3a – Audit of IT Systems and Data Analytics

Discuss solutions to audit trail loss and evaluate CAATs' merits and demerits in auditing.

Question

The availability of Computer Assisted Audit Techniques (CAATs) should be considered by the Auditor when planning the nature, extent, and timing of tests in an audit. Hence, the auditor must determine their testing strategies, which will depend on their decision of either using a Manual Testing method or CAATs method, to avoid loss of audit trail.

Required:

i. Discuss FIVE solutions to loss of audit trail. (5 Marks)

ii. Evaluate the merits and demerits of the application of CAATs. (7 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit trail, CAATs, IT Audit, Manual vs. automated testing, Testing strategies
Level: Level 3

Topic: Audit of IT Systems and Data Analytics

AAA – Nov 2011 – L3 – SA – Q16 – Audit of IT Systems and Data Analytics

Identifies an option that is not a Computer Assisted Audit Technique (CAAT).

Question

Which ONE of the following is NOT an example of Computer Assisted Audit Technique?

A. Read only memory
B. System control and review file
C. Integrated test facilities
D. Snapshot
E. Mapping

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Techniques, Audit Tools, CAATs, Data Analytics, IT Systems
Level: Level 3

Topic: Audit of IT Systems and Data Analytics
Series: NOV 2011

AA – May 2022 – L2 – SA – Q1 – Auditing in a Computerized Environment

Discuss computer audit packages, CAATs, and threats to IT systems in a computerized auditing environment.

Question

Quality Plastic Manufacturing Company Limited has been operating for about a decade. The company is into the production of plastic chairs, bowls, tables, and other related products. It was awarded a contract to produce chairs for a Pentecostal church that has branches across 36 states of the country, including Abuja. The church has its convention ground that occupies large hectares of land along Lagos-Abeokuta expressway. The number of chairs, which are in millions, would be produced and delivered to the headquarters of the church from where they would be distributed to all the branches and the convention ground.

Given the fact that this contract would increase the fortune of the company, Ogbuefi Okafor, the Chairman of the company, saw the need for the company to grow bigger in the future and would require more funding to finance the expansion. He discussed this with his bank manager who advised him to approach a consultant that would prepare a feasibility study for him on the expansion.

Though he agreed with the bank manager, he however now feels that there is a need to convert the accounting system of the company from manual to computer-based as a result of the level of expansion envisaged. As a first step before conversion to a computer-based system, the company set up an internal control system, including an internal audit department. The internal audit department is headed by a partly qualified accountant who has passed the skills level of ICAN Professional Examinations but has a very wide experience in internal audit. Your firm has been the auditors of the company for the past five years.

a. Explain the computer audit packages that can be used in the audit documentation process and the advantages of these audit packages.
b. State the commonly used computer-assisted audit techniques (CAATs) and explain why they are essential in the audit process of a computer-based accounting system.
c. Explain ten threats to Information Technology (IT) systems, which the auditor should be aware of.

Answer

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Tags: Audit Documentation, CAATs, Computer-Based Auditing, Internal Controls, IT Systems Threats
Level: Level 2

Topic: Auditing in a Computerized Environment
Series: MAY 2022

AA – Nov 2021 – L2 – Q7 – Auditing in a Computerized Environment

Explains the conditions for a systems-based approach, CAATs, major transaction cycles, and elements of sales systems.

Question

The auditor takes a systems-based approach wherever possible and focuses on testing the systems and internal controls that produce the financial reporting figures of an organization rather than focusing on the figures themselves. Specialised techniques of obtaining audit evidence may be required by the auditors in an organization where the systems are Information Technology (IT) based.

Required:

a. Explain the TWO conditions that are necessary before the auditor can adopt a systems-based approach to audit assignment. (2 Marks)

b. Explain the term Computer-Assisted Audit Techniques (CAATs) and its disadvantages. (7 Marks)

c. Explain the term “Major Transaction Cycles” of an organization that the auditor should focus much of his audit work. (3 Marks)

d. State the elements of the sales system of an organization that the auditor should apply tests of controls. (3 Marks)

Answer

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Tags: Audit evidence, CAATs, Major Transaction Cycles, Sales System, Systems-Based Approach
Level: Level 2

Topic: Auditing in a Computerized Environment
Series: NOV 2021

AA – Nov 2016 – L2 – Q2b – Audit and Assurance Evidence

Define audit software and test data, and explain the advantages of CAATs.

Question

Computer-Assisted Audit Techniques (CAATs) are the use of computers for audit work and comprise mainly audit software and test data.

Required:
Explain the terms ‘audit software’ and ‘test data’ and list the advantages of using CAATs in an audit.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Software, CAATs, Test Data
Level: Level 2

Topic: Audit and Assurance Evidence
Series: NOV 2016

AAA – Aug 2022 – L3 – Q5b – Audit evidence

Explain the relevance of CAATs in evaluating audit evidence.

Question

Computer-Assisted Audit Techniques (CAATs) is a growing field within the IT audit profession. CAATs is the practice of using computers to automate the IT audit processes.

Required:
Explain THREE (3) relevance of CAATs in evaluating audit evidence.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit evidence, CAATs, Control Testing, IT Audit
Level: Level 3

Topic: Audit evidence
Series: AUG 2022

AAA – Nov 2016 – L3 – Q4b – Audit of IT Systems and Data Analytics

Identify solutions to address the loss of an audit trail in computer-assisted or manual testing.

Question

Required:
Identify FIVE solutions to the loss of an audit trail. (5 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Planning, Audit trail, CAATs, Loss of Data, Testing strategies
Level: Level 3

Topic: Audit of IT Systems and Data Analytics

AAA – Nov 2016 – L3 – Q4a – Audit of IT Systems and Data Analytics

Evaluate the advantages and disadvantages of test data and audit software for compliance and substantive testing.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Application Controls, Audit Software, CAATs, Compliance Testing, Substantive Testing, Test Data
Level: Level 3

Topic: Audit of IT Systems and Data Analytics

AAA – Nov 2021 – L3 – Q3b – Audit of IT Systems and Data Analytics

Discuss audit team activities using CAATs on client premises and analyze two types of audit software.

Question

Required:

i. Discuss the activities members of the audit team could perform with their computers in the client’s office. (4 Marks)

ii. Analyze TWO types of audit software in use in computer-based information systems. (4 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit evidence, Audit Software, CAATs, Computer-based audit, Data Analysis, IT Audit
Level: Level 3

Topic: Audit of IT Systems and Data Analytics

AAA – Nov 2021 – L3 – Q3a – Audit of IT Systems and Data Analytics

Discuss solutions to audit trail loss and evaluate CAATs' merits and demerits in auditing.

Question

Required:

i. Discuss FIVE solutions to loss of audit trail. (5 Marks)

ii. Evaluate the merits and demerits of the application of CAATs. (7 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit trail, CAATs, IT Audit, Manual vs. automated testing, Testing strategies
Level: Level 3

Topic: Audit of IT Systems and Data Analytics

AAA – Nov 2011 – L3 – SA – Q16 – Audit of IT Systems and Data Analytics

Identifies an option that is not a Computer Assisted Audit Technique (CAAT).

Question

Which ONE of the following is NOT an example of Computer Assisted Audit Technique?

A. Read only memory
B. System control and review file
C. Integrated test facilities
D. Snapshot
E. Mapping

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Techniques, Audit Tools, CAATs, Data Analytics, IT Systems
Level: Level 3

Topic: Audit of IT Systems and Data Analytics
Series: NOV 2011

AA – May 2022 – L2 – SA – Q1 – Auditing in a Computerized Environment

Discuss computer audit packages, CAATs, and threats to IT systems in a computerized auditing environment.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Documentation, CAATs, Computer-Based Auditing, Internal Controls, IT Systems Threats
Level: Level 2

Topic: Auditing in a Computerized Environment
Series: MAY 2022

AA – Nov 2021 – L2 – Q7 – Auditing in a Computerized Environment

Explains the conditions for a systems-based approach, CAATs, major transaction cycles, and elements of sales systems.

Question

Required:

a. Explain the TWO conditions that are necessary before the auditor can adopt a systems-based approach to audit assignment. (2 Marks)

b. Explain the term Computer-Assisted Audit Techniques (CAATs) and its disadvantages. (7 Marks)

c. Explain the term “Major Transaction Cycles” of an organization that the auditor should focus much of his audit work. (3 Marks)

d. State the elements of the sales system of an organization that the auditor should apply tests of controls. (3 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit evidence, CAATs, Major Transaction Cycles, Sales System, Systems-Based Approach
Level: Level 2

Topic: Auditing in a Computerized Environment
Series: NOV 2021

AA – Nov 2016 – L2 – Q2b – Audit and Assurance Evidence

Define audit software and test data, and explain the advantages of CAATs.

Question

Computer-Assisted Audit Techniques (CAATs) are the use of computers for audit work and comprise mainly audit software and test data.

Required:
Explain the terms ‘audit software’ and ‘test data’ and list the advantages of using CAATs in an audit.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Software, CAATs, Test Data
Level: Level 2

Topic: Audit and Assurance Evidence
Series: NOV 2016

AAA – Aug 2022 – L3 – Q5b – Audit evidence

Explain the relevance of CAATs in evaluating audit evidence.

Question

Computer-Assisted Audit Techniques (CAATs) is a growing field within the IT audit profession. CAATs is the practice of using computers to automate the IT audit processes.

Required:
Explain THREE (3) relevance of CAATs in evaluating audit evidence.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit evidence, CAATs, Control Testing, IT Audit
Level: Level 3

Topic: Audit evidence
Series: AUG 2022

Question Tag: CAATs

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AAA – Nov 2016 – L3 – Q4b – Audit of IT Systems and Data Analytics

Identify solutions to address the loss of an audit trail in computer-assisted or manual testing.

You're reporting an error for "AAA – Nov 2016 – L3 – Q4b – Audit of IT Systems and Data Analytics"

AAA – Nov 2016 – L3 – Q4a – Audit of IT Systems and Data Analytics

Evaluate the advantages and disadvantages of test data and audit software for compliance and substantive testing.

You're reporting an error for "AAA – Nov 2016 – L3 – Q4a – Audit of IT Systems and Data Analytics"

AAA – Nov 2021 – L3 – Q3b – Audit of IT Systems and Data Analytics

Discuss audit team activities using CAATs on client premises and analyze two types of audit software.

You're reporting an error for "AAA – Nov 2021 – L3 – Q3b – Audit of IT Systems and Data Analytics"

AAA – Nov 2021 – L3 – Q3a – Audit of IT Systems and Data Analytics

Discuss solutions to audit trail loss and evaluate CAATs' merits and demerits in auditing.

You're reporting an error for "AAA – Nov 2021 – L3 – Q3a – Audit of IT Systems and Data Analytics"

AAA – Nov 2011 – L3 – SA – Q16 – Audit of IT Systems and Data Analytics

Identifies an option that is not a Computer Assisted Audit Technique (CAAT).

You're reporting an error for "AAA – Nov 2011 – L3 – SA – Q16 – Audit of IT Systems and Data Analytics"

AA – May 2022 – L2 – SA – Q1 – Auditing in a Computerized Environment

Discuss computer audit packages, CAATs, and threats to IT systems in a computerized auditing environment.

You're reporting an error for "AA – May 2022 – L2 – SA – Q1 – Auditing in a Computerized Environment"

AA – Nov 2021 – L2 – Q7 – Auditing in a Computerized Environment

Explains the conditions for a systems-based approach, CAATs, major transaction cycles, and elements of sales systems.

You're reporting an error for "AA – Nov 2021 – L2 – Q7 – Auditing in a Computerized Environment"

AA – Nov 2016 – L2 – Q2b – Audit and Assurance Evidence

Define audit software and test data, and explain the advantages of CAATs.

You're reporting an error for "AA – Nov 2016 – L2 – Q2b – Audit and Assurance Evidence"

AAA – Aug 2022 – L3 – Q5b – Audit evidence

Explain the relevance of CAATs in evaluating audit evidence.

You're reporting an error for "AAA – Aug 2022 – L3 – Q5b – Audit evidence"

AAA – Nov 2016 – L3 – Q4b – Audit of IT Systems and Data Analytics

Identify solutions to address the loss of an audit trail in computer-assisted or manual testing.

You're reporting an error for "AAA – Nov 2016 – L3 – Q4b – Audit of IT Systems and Data Analytics"

AAA – Nov 2016 – L3 – Q4a – Audit of IT Systems and Data Analytics

Evaluate the advantages and disadvantages of test data and audit software for compliance and substantive testing.

You're reporting an error for "AAA – Nov 2016 – L3 – Q4a – Audit of IT Systems and Data Analytics"

AAA – Nov 2021 – L3 – Q3b – Audit of IT Systems and Data Analytics

Discuss audit team activities using CAATs on client premises and analyze two types of audit software.

You're reporting an error for "AAA – Nov 2021 – L3 – Q3b – Audit of IT Systems and Data Analytics"

AAA – Nov 2021 – L3 – Q3a – Audit of IT Systems and Data Analytics

Discuss solutions to audit trail loss and evaluate CAATs' merits and demerits in auditing.

You're reporting an error for "AAA – Nov 2021 – L3 – Q3a – Audit of IT Systems and Data Analytics"

AAA – Nov 2011 – L3 – SA – Q16 – Audit of IT Systems and Data Analytics

Identifies an option that is not a Computer Assisted Audit Technique (CAAT).

You're reporting an error for "AAA – Nov 2011 – L3 – SA – Q16 – Audit of IT Systems and Data Analytics"

AA – May 2022 – L2 – SA – Q1 – Auditing in a Computerized Environment

Discuss computer audit packages, CAATs, and threats to IT systems in a computerized auditing environment.

You're reporting an error for "AA – May 2022 – L2 – SA – Q1 – Auditing in a Computerized Environment"

AA – Nov 2021 – L2 – Q7 – Auditing in a Computerized Environment

Explains the conditions for a systems-based approach, CAATs, major transaction cycles, and elements of sales systems.

You're reporting an error for "AA – Nov 2021 – L2 – Q7 – Auditing in a Computerized Environment"

AA – Nov 2016 – L2 – Q2b – Audit and Assurance Evidence

Define audit software and test data, and explain the advantages of CAATs.

You're reporting an error for "AA – Nov 2016 – L2 – Q2b – Audit and Assurance Evidence"

AAA – Aug 2022 – L3 – Q5b – Audit evidence

Explain the relevance of CAATs in evaluating audit evidence.

You're reporting an error for "AAA – Aug 2022 – L3 – Q5b – Audit evidence"

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