Better Use Computer Assisted Auditing Techniques for Auditing Essay

Better Use Computer Assisted Auditing Techniques for Auditing - audition ExampleThe aim of this project is to give a better understanding of CAATs this is further supported by practical illustrations and examples of CAATs. To start any audit, understanding and knowledge of the bloodline should be gained during the planning stage. This knowledge of the business helps in analyzing the inner(a) control systems, and then it is decided whether or not to rely on the internal control system. It is later decided upon the nature of the client and its system to use CAATs. The advantages of CAATs clearly appearweigh its disadvantages and this proficiency clearly has an upper hand when it comes to processing large amounts of data. The other issue in this paper is the contact of using this technique after having proper analysis of the business being audited. Finally, the paper is concluded by pointing out that its benefits clearly outweigh its risk, how to plan for using the CAATs and recomm ended training of an IT audit specialist.Auditing is the process by which something is examined with a view to form an opinion. This allows users of that opinion to gain say-so that the opinion, process, or the information gathered can be trusted. The purpose of authorization services is to increase the confidence and reduce the risk of the user of those services. The main documentary of auditing is to ensure that financial statements are free from material misstatement and are presented fairly by the management. An auditor carries out two types of assurance engagements, with one being the reasonable assurance engagement and the other being the contain assurance engagement. When giving out a reasonable assurance engagement, the auditor gathers sufficient and appropriate induction to support the conclusion, as well as making it stronger. On the other hand, a limited assurance engagement gives out a negative assurance report and the evidence gathered in an assurance engagement is only related to the specific subject matter that is being audited