- 7 Marks
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)
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