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IT Enabled Audit Tools                CA S. Rathinagiri                          Erode Branch                          SIR...
Information TechnologyThe basics  Information → Data → Information  Use of computers  Nature of Business Data     Text Dat...
AuditTraditional Way (Around Computers – Black Box)  Financial Opinion Audit  Operational/Process Audit  Compliance AuditH...
Impact of IT http://www.rathinagiri.in     srgiri@dataone.in
What is changed?Nature of Data?Procedures?Controls?Risks/Threats/Vulnerabilities/Errors/Frauds?Volume?Form?Mode? Technolog...
Advantages of IT Enabled AuditEffectivenessSpeedSimplicityControl over the auditAvoidance of monotonous and redundant jobR...
Problems/LimitationsComputers are supposed to solve problems but many times they ARE the problems.Less integration of the ...
Audit ToolsApplication Software   Regular Reports/Special Reports/Exceptional Reports    etc.,Electronic Spreadsheet Softw...
Features of Audit ToolsETLCreating a Trail of Audit TrailsElectronic Working PapersTest Data creationSeveral Scientific me...
Features of Audit Tools – Contd.Finding of Exceptional Data   Identifying Gaps   DuplicatesSummarising and stratifying (ar...
Approach to IT auditUpdating IT knowledge  Manual/Help available with the software  Googling/Yahooing  Forums  Various oth...
Approach to IT Audit – cont.Usage of tools available   Spreadsheet (Excel/Openoffice/Libre Calc)      Formulas      Functi...
Approach to IT Audit – contd.   Goal Seeking   Scenarios   Charts   Dependencies and Precedents   Sub-totalDatabase Softwa...
Novel Approach – Data Mining ToolsRapid Miner  Open source  Free  Easy to adapt                  http://www.rathinagiri.in...
http://www.rathinagiri.in    srgiri@dataone.in
Data mining Tools – cont.Pentaho  Opensource  Business Intelligence  Data Analytics                    http://www.rathinag...
http://www.rathinagiri.in    srgiri@dataone.in
What the heck?!Dont over doExpect the unexpectedUse the unusualThink, think, ponder, ponder andBe a volcano               ...
Any questions?   http://www.rathinagiri.in       srgiri@dataone.in
http://www.rathinagiri.in    srgiri@dataone.in
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IT Enabled Audit Tools

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Transcript of "IT Enabled Audit Tools"

  1. 1. IT Enabled Audit Tools CA S. Rathinagiri Erode Branch SIRC of ICAI 28/07/2012 http://www.rathinagiri.in srgiri@dataone.in
  2. 2. Information TechnologyThe basics Information → Data → Information Use of computers Nature of Business Data Text Data Spatial Data Independence of Data http://www.rathinagiri.in srgiri@dataone.in
  3. 3. AuditTraditional Way (Around Computers – Black Box) Financial Opinion Audit Operational/Process Audit Compliance AuditHybrid/Integrated (Through Computers – White Box)Fully IT related (With Computers – Tool Box?) http://www.rathinagiri.in srgiri@dataone.in
  4. 4. Impact of IT http://www.rathinagiri.in srgiri@dataone.in
  5. 5. What is changed?Nature of Data?Procedures?Controls?Risks/Threats/Vulnerabilities/Errors/Frauds?Volume?Form?Mode? Technology? http://www.rathinagiri.in srgiri@dataone.in
  6. 6. Advantages of IT Enabled AuditEffectivenessSpeedSimplicityControl over the auditAvoidance of monotonous and redundant jobRelianceAudit Templates http://www.rathinagiri.in srgiri@dataone.in
  7. 7. Problems/LimitationsComputers are supposed to solve problems but many times they ARE the problems.Less integration of the systems turns out to MORE problemsNot cost effectiveDocumentationIT knowledge of auditors/staffProblems in test data and year change over. http://www.rathinagiri.in srgiri@dataone.in
  8. 8. Audit ToolsApplication Software Regular Reports/Special Reports/Exceptional Reports etc.,Electronic Spreadsheet SoftwareAudit Tools Software like ACL (Audit Command Language) IDEA (Interactive Data Extraction and Analysis)OLAP, BI, Data mining Tools http://www.rathinagiri.in srgiri@dataone.in
  9. 9. Features of Audit ToolsETLCreating a Trail of Audit TrailsElectronic Working PapersTest Data creationSeveral Scientific methods of SamplingAging analysis of data http://www.rathinagiri.in srgiri@dataone.in
  10. 10. Features of Audit Tools – Contd.Finding of Exceptional Data Identifying Gaps DuplicatesSummarising and stratifying (arrange/index/sort) dataGraphical representation of dataExport of results http://www.rathinagiri.in srgiri@dataone.in
  11. 11. Approach to IT auditUpdating IT knowledge Manual/Help available with the software Googling/Yahooing Forums Various other resources like slideshares, e-books etc., http://www.rathinagiri.in srgiri@dataone.in
  12. 12. Approach to IT Audit – cont.Usage of tools available Spreadsheet (Excel/Openoffice/Libre Calc) Formulas Functions Macros Data Import and analysing facilities Sorting Filtering Pivot Tables http://www.rathinagiri.in srgiri@dataone.in
  13. 13. Approach to IT Audit – contd. Goal Seeking Scenarios Charts Dependencies and Precedents Sub-totalDatabase Software (Access/Base/SQL software) Summarise, Sort, Filter, Compare, Join Simple English like Language ETL http://www.rathinagiri.in srgiri@dataone.in
  14. 14. Novel Approach – Data Mining ToolsRapid Miner Open source Free Easy to adapt http://www.rathinagiri.in srgiri@dataone.in
  15. 15. http://www.rathinagiri.in srgiri@dataone.in
  16. 16. Data mining Tools – cont.Pentaho Opensource Business Intelligence Data Analytics http://www.rathinagiri.in srgiri@dataone.in
  17. 17. http://www.rathinagiri.in srgiri@dataone.in
  18. 18. What the heck?!Dont over doExpect the unexpectedUse the unusualThink, think, ponder, ponder andBe a volcano http://www.rathinagiri.in srgiri@dataone.in
  19. 19. Any questions? http://www.rathinagiri.in srgiri@dataone.in
  20. 20. http://www.rathinagiri.in srgiri@dataone.in
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