This presentation provides a brief overview of Auto eCAAT Pro with use cases. Auto eCAAT Pro is a Data Analytics/BI software specially designed for CA Firms and their team to perform and automate analytics in the assignments of Assurance, Compliance and Fraud Investigations.
1. Intro of Key Features of Auto eCAAT Pro
Standardise & Automate Data Analytics as you Need
for CA and their Teams
https://www.wincaat.com
2.
3. Vision
Global Leading Solution Provider in Data Analytics
for Empowering Professionals to realise potential
by Applying Thought to Technology.
Mission
Revolutionize Assurance, Compliance and
Consulting Services by Providing
Powerful Tools & Techniques
for Performing Data Analytics, BI and AI.
4. With Innovative Software Solutions,
We Empower CAs & CXOs to Harness:
Power of
Technology to
Provide Value
Addition through
IT-Enabled Service
offerings.
Subject Matter
Expertise and
Domain Knowledge
to Provide Existing
and Innovative
Services.
Professional
Potential to
Provide Value
Addition as
Knowledge
Workers and be
more Effective and
Productive.
Strateg
y
5. Approach
Our Solutions are made for the New Age DigITal AudITor!
Learn how to Future-Proofyour Career & Accelerate Growth!
Higher use of Technology.
Greater Value Addition and
Serve your Clients in Shorter Time with
Deploying Systems and Solutions for Scaling up Services for Empowering you
to:
8. Add in to MS
Excel. Blends
simplicity of MS
Excel with the
power of data
from Database!
Designed from
Assurance,
Controls &
Compliance
perspective.
Automate Audit
or MIS group of
functions and
perform them at
one go and also
save as template
to re-perform.
Makes Data
Analytics Simple,
Effective,
Affordable with
Short Learning
Curve.
Why use Auto eCAAT Pro?
Simplify and Automate
Analytics for CA Firms
9. Auto eCAAT Pro: Add-in to MS Excel
Simplify and Automate Analytics for CA Firms
Designed from Assurance, Controls & Compliance perspective for CAs & their teams.
Identify irregularities, exceptions, outliers & verify compliances in Digital Data.
Perform select group of functions at one go to generate all reports in Excel Workbooks, based on selection “By
Criteria” or “By Functions” and save as template.
Automate Standard Audit/MIS process to perform select group of functions as required.
Perform various types of audit tests on Excel data in a few clicks!
Easy-use-to-use interface with a comprehensive collection of DA/BI functions.
Blends simplicity of MS Excel with the power of data from Database!
14. What Skilllsets/Toolsets are you Using Today?
What Technology you are using Today?
What Tools you are using Today?
What Techniques you are using Today?
WILL
Determine your Tomorrow.
Determine your Career/Success!
How to be a NextGen Digital Accountant?
15. The Future will be exponentially Digital.
Chartered Accountants can
Future-proof their career
with Knowledge and skills of Data Analytics
to enhance value from their core competencies.
We have a host of solutions with inbuilt knowledge-base in the
field of Data Analytics to prepare you for this Digital Age.
Future is Digital and the need is Data Analytics
16. Data Analytics
will Empower
CAs to exploit their expertise
to create new possibilities of
Adding value.
We have Invested time and resources to Creating Suite of Solutions
with required Knowledge-base.
We empower you with Online Courses to Explore and Exploit the Digital
Data with relevant Tools and Technologies!
22. What can you do with Data Analytics/BI Software?
Establish Facts & Issues
Explore Hunches & Ideas
Draw Inferences & Insights
Validate & Confirm Hindsight
Report Findings & Recommendations
24. What is Auto eCAAT Pro?
• Developed by Auditors for Auditors to
Audit any Digital Data.
• Expert team-effort of > 25 man-years.
• Add-in to MS Excel as a new tab
• Use in any Assurance, Compliance,
Analytics or BI Assignment.
• Right blend of Simplicity.
• Ease of Use with Few Clicks.
• Ready for use with Min. Training.
25. What can you do
with it?
25
AUTOMATE
Data Analysis
for
Compliance,
Assurance,
BI or Fraud
Investigation
26. Add-in to MS Excel
Software
Easy to use and
Simple to Learn
Look & Feel of MS
Excel but with
Power of Database
Powerful
Automated Data
Analytics with
> 80 Functions
Automate
Complex
Analysis in a Few
clicks with Auto
Documentation
What is Auto eCAAT Pro?
Automated Data Analytics SpeciallyDesigned for CA and their teams.
27. Who can use Auto eCAAT Pro?
• Auditors: Financial, Compliance or IT, CXOs, Fraud/Forensics
investigator….
Those who are working as:
• Infer Insights from Information from any electronic format or
software!
Those who have to use Data
Analytics to:
• Enhance skills, grow in their career and be more effective.
Those who would like to:
• Use IT Tools and skills for accessing, analysing and auditing
electronic information.
Those who have to:
• Supplement their Knowledge and Skills to provide value addition
Those who have to:
• Investigate and report on frauds in electronic information of
automated environment.
Those who have to:
30. Why use Auto eCAAT Pro?
Comprehensive tool
to audit 100% of
the data.
Empower your
audit staff at
affordable cost.
Do more in less
time by enhancing
your productivity.
Easy to learn and
simple to use.
Perform analysis to
draw inference and
insight.
Power to process
complex files
quickly with a few
clicks.
Designed for new,
inexperienced and
expert CAATs users.
Integrated as a tab
in MS Excel but
with innate power
of database.
Grow professionally
empowered by
Technology.
31. Need for Data Analytics in Audit
Provide
Assurance/Trust
by using
Technology
with CAATs or
Data Analytics
32. Seven Key Benefits of using Auto eCAAT Pro
1. Enhance your
Skills and Tools
2. Increase
productivity of
your Time
3. Provide better
Assurance & Add
value
4. Grow your
Professional Team
& Esteem.
5. Accelerate your
Income earning
capability.
6. Develop
empowering
Reach & Impact.
7. Gain recognition
as a thought
Leader.
Apply Thought to
Technology!
33. Do MORE
in less Time
with
Auto eCAAT
Pro
Automate your Analytics Process
and Re-perform as Required
35. Solutions and Opportunities: Standardise
Assurance Process
Get Right
Data
Curate &
Validate
Data
List Tests
to
Perform
List Tools
& Tech. to
Use
Infer
Insights
from
Results
Report
Risks
and
Insights
36. 3 USEFUL SETS OF PROFESSIONALS
Mindset SkillSet Toolset
You have the Mindset,
we will empower you
with the Skillset and Toolset
with our DA/BI Software.
37. When to use CAATs/Data Analytics/BI?
Mathematics is exact but
Statistics is approximate
Data is dumb but
information is intelligent
Data Analysis is about
leveraging human
intelligence
Inference requires more
application of intelligence
Drawing inference from
data analytics is based on
applying human
intelligence to technology
to get required results.
Immense computing
power helps blend the
power of computers with
intelligence to interpret
what data is.
38. Seven Step Approach for Data Analytics
Identify and document the scope and objectives of Assurance/Compliance Assignment.
Identify what information will be required, to address audit scope and objectives and collect the data
from client in required digital format.
Review the data to understand what each column in file represents and how it might be relevant in
performing the audit.
Review and curate the data and format the header row for the file to make it ready for data
analytics.
Confirm that data is complete by comparing statistics from data analytics software and original
source of data/software.
Understand the Business processes/validations/controls relevant for audit.
Identify and document the audit tests to be performed and functions of data analytics software which can
be used.
39. Seven Steps for using Auto eCAAT Pro for Data Analytics
Remember Software can perform function & display results but user must select right
function/fields to get right results & draw insights from results.
Review Review Field Formats and change it to required format if required.
Delete Delete fields which are not relevant for audit and fields with only one
common value as no analytics is possible on this.
Document Document field description and related business process/validation rules.
Perform Perform harmonize sheet to get data and headers in right format for
analysis. Close all other MS Excel files except file required for analysis.
Make Make copy of the files and perform analysis only on copy of file.
Get Get Data Ready for Data Analytics.
40. Approach to using Analytics
Problems to
Analyse
Get/Process
Data
Analyse
Results
Measure
Insights
Apply
Learnings
41. Data Analytics in 4 Steps
1. Business
Process Controls
2. Information
Criteria for
Evaluation
3. Tools and
Techniques to Use
(SW)
4. Analyse &
Report for Value
Addition
43. Panels Brief Description of Panels in Auto eCAAT Pro
By Criteria Performs the selected list of Auto eCAAT Pro
functions, in succession from the selected functions of
specific panel.
By
Functions
Performs the selected list of AUTO eCAATPro
functions in succession, as specified from this panel
and display results in worbook/worksheets.
Tools Provides specific functions for re-performing functions
already performed based on all/last function and also
save template any function of software.
Utilities This function lets the user Scheduler the
tasks/functions of Auto eCAAT Pro as per requirement.
44. By Criteria
• Specific Features:
• Profile
• Analyse
• Investigate
• Sampling
Performs the
selected list of
Auto eCAAT Pro
functions, in
succession
from the
selected
functions of
specific panel.
45. By Functions
• Specific Features:
• There are 59
functions
covering all
areas of
analytics
Performs the selected
list of Auto eCAAT
Pro functions in
succession, as
specified from this
panel and display
results in
worbook/worksheets.
46. Tools
• Specific Functions:
• Save Template
• Rerun
• Refresh
Provides specific
functions for re-
performing
functions already
performed based on
all/last function and
also save template
any function of
software.
47. Utilities
• Specific Functions:
• Activities Log
• Hide/Unhide
• By Panel
• By Module
• Test Data
• Scheduler
This function lets
the user Schedule
the tasks or
functions of Auto
eCAAT Pro as per
requirement.
55. Generic Use
Case of Auto
eCAAT Pro:
What can you
do with it?
• Add-in to MS Excel Software which is designed for CA Firms and their Teams to
perform analytics for Assurance, Controls and Compliance assignments to Identify
Irregularities, Exceptions, Outliers, Verify Conformances and Compliances and
generate BI/MIS reports from the Digital Data.
• Automate Standard Audit/MIS process to perform select group of functions as
required and make audit process uniform and repeatable.
• Easy to use and Simple to Learn which enables users to perform various types of
audit tests on Excel data in a few clicks!
• Look & Feel of MS Excel but with power of Database which blends simplicity of
MS Excel with the power of data from Database!
• Easy-use-to-use interface with a comprehensive collection of >80 Powerful
Functions useful for Data Analytics, Business Intelligence and Fraud Investigation.
• Inbuilt data analytics approach and steps in the panels, menus and functions of
software to curate, profile, analyse, explore, investigate data based on specified
criteria.
• Makes Data Analytics Simple, Effective, Affordable with short learning curve.
Most reliable & relevant DA Software for Auditors, CXOs and Fraud Investigators.
• Perform Complex Analysis in a Few clicks with Auto Documentation.
56. Generic Use
case of Auto
eCAAT Pro:
Walk-
through
of
Functions
• Auto eCAAT Pro is
an Add in Excel
which empowers
users to perform
Data Analytics and
Automate the
process of analytics
from Excel so that
this can
standardised and
repeated as
required.
• The user must get
the required data
in MS Excel and
then select and
perform any of the
selected functions.
• These functions of
Auto eCAAT Pro
enable user to
Perform Powerful
Analytics without
knowing any macros
and also ensure
uniformity of the
analytics process.
• User has a quick
walk-through of the
Tabs which include:
• By Criteria
• By Functions
• Utilities
• Tools
57. Generic Use
case of
Auto eCAAT Pro:
User has
walk-through of
the various
powerful
functions
available for
selection
By Criteria
(Menus) or
By Functions:
Profile
Analyse
Investigate
Sampling
Functions
58. Generic Use
Case of
Auto eCAAT
Pro:
Understand
Relevant
Functions
• The user selects the relevant functions in the
“By Criteria” Panel from the specific menu of
eCAAT. These functions are performed, in
succession, in sequence and saved as Excel
workbooks.
• The user selects the relevant functions in the
“By Functions” Panel of eCAAT. These functions
are performed, in succession, in sequence and
saved as Excel workbooks.
• The user selects the relevant functions in the
Document Menu to re-perform and edit
previously performed template functions and
creates duplicate of saved template and displays
the log of performed templates.
• The user selects the relevant functions in
Utilities Menu to Schedule specific list of
tasks/functions of Auto eCAAT as per
requirement.
59. Generic Use case of Auto eCAAT Pro: Key Benefits
The user gets practical exposure
of how Auto eCAAT Pro Software
supplements and enhances
eCAAT and enables automation
of Data Analytics process in a
very simple and effective manner.
The user selects the relevant
function using the “By Criteria” or
“By Function” and captures the
parameters and then perform all
of the selected functions in one
go. These set of functions can
also be saved as template and
re-used as required.
The user discovers that it is not
necessary to depend on IT
personnel to Automate audit
process but can do it dynamically
on the fly as per needs of the
assignment.
Using Auto eCAAT Pro, the user
specifically Identifies
Irregularities, Exceptions, Outliers
and does further analysis as
required and reports the relevant
findings and recommendations
with the evidence, to
management.
The auto documentation feature
records date and time stamp for
all the functions performed so
that it can be used as record of
work done and to re-perform as
and when required.
The user finds that Auto eCAAT
Pro Software can be used for
various types of assignments
such as Assurance, Verifying
Controls and Validating
Conformances with Statutory
Regulations as required.
You can see the Complete List of Functions with Brief Description at:
https://wincaat.com/Features_eCAATPro/Functions.aspx
61. Control Objectives: Fixed Assets
• Fixed Asset registers vary in detail of information and volume of records. In
enterprises with significant volumes of records, auditors can use Data
Analytics to perform various kind of analysis on the list of Fixed Assets.
Fixed Asset
Register
• i. Whether the company maintains proper records showing full particulars
including details of quantity and situation of the fixed assets
Maintenance of
Records
• ii. Whether physical verification of the fixed assets is conducted by the
management at reasonable intervals
Physical
Verification
• iii. If any material discrepancies were noticed on physical verification,
whether it has been accounted for in books of accounts
Accounting of
Discrepancies
62. Illustrative Control Objectives to Test using Data Analytics Financial Assertions
Fixed asset acquisitions are accurately recorded. Valuation
Fixed asset acquisitions are recorded in the appropriate period. Valuation
All fixed asset acquisitions are recorded. Completeness
All fixed asset disposals are recorded. Existence
Fixed asset disposals are accurately calculated and recorded. Valuation
Fixed asset disposals are recorded in the appropriate period. Valuation
Records of fixed asset maintenance activity are accurately maintained. Completeness
Fixed asset maintenance activity records are updated in a timely
manner.
Completeness
Only valid changes are made to the fixed asset register and/or master
file.
Completeness Existence
All valid changes to the fixed asset register and/or master file are input
and processed.
Completeness Existence
Changes to the fixed asset register and/or master file are accurate. Valuation
Changes to the fixed asset register and/or master file are promptly
processed.
Completeness Existence
Fixed asset register and/or master file data remain up to date. Completeness Existence
63. Sample Areas for Review in Fixed Assets
List of Fixed Asset with all details.
Fixed Assets With Book Value of Zero.
Fixed Assets With No Depreciation.
Sample Of Fixed Assets for Physical Verification.
Fixed Assets with/without Annual Maintenance Contracts.
Fixed Assets insured/Not Insured.
64. Area: List of Fixed Assets
• The fixed assets listing provides a summary of
all assets held within an enterprise.
Context
• Lack of fixed asset register management and
maintenance could result in loss of assets.
Risk
• Extract a current listing of fixed assets.
Procedure
• Extracts a current listing of all fixed assets
from the system as required for audit.
Analytic Logic
65. Area: Fixed Assets With Zero Book Value
• Fixed assets listed with zero book value are indicative of
assets that have incorrect useful lives and/or are
incorrectly valued.
Context
• Assets are incorrectly valued or have incorrect useful
lives.
Risk
• Identifies all fixed assets with a book value of zero.
Procedure
• Extracts fixed assets in the system with a book value of
zero (where cost including revaluation equals
accumulated depreciation).
Analytic Logic
66. Area: Fixed Assets With No Depreciation
• Depreciation shows a reduction in the value of an asset over time,
as the asset is used in the business.
• Depreciation methods should be aligned to accounting standards
and applied consistently every year.
Context
• Contravention of accounting standards and overstatement of
the balance sheet.
Risk
• Identifies all fixed assets with no depreciation.
• Note: Certain fixed assets such as investment property, land, and
assets under construction are not depreciable assets.
• These asset classes should be excluded for purposes of this
analytic.
Procedure
• Extracts all those assets with zero accumulated
depreciation.
Analytic Logic
67. Area: Sample Of Fixed Assets For Physical Inspection By Audit
• Physical inspection of assets verifies the existence of the assets. It
also assists with confirming the condition of the asset to validate its
valuation.
Context
• Non-existence of assets listed on the fixed asset register.
Risk
• Generates a sample of fixed assets for physical inspection by audit.
Procedure
• Extracts a random sample of fixed assets using random
sampling method or stratified random sampling method
using software.
Analytic Logic
68. Area: Fixed Assets with/without Annual Maintenance Contracts
• All Fixed Assets of significant value and usage
should have annual maintenance contract so that
it is maintained by vendor if there is breakdown.
Context
• Lack of AMC for the fixed assets will impact continuous
availability of fixed assets for use and the unexpected
cost of maintenance in case of breakdowns.
Risk
• Generate a list of fixed assets from fixed asset
register and extract the list of fixed assets with
AMC to identify assets which do not have AMC.
Procedure
• Extract a sample of fixed assets based on
materiality to verify whether AMC is available for
all assets of significant value and usage.
Analytic Logic
69. Area: Fixed Assets with/without Insurance
• All Fixed Assets of significant value and usage
should have relevant insurance coverage as
required.
Context
• Not having Insurance will cause financial loss in case of
incident causing loss to asset due to various risks.
Risk
• Generate a list of fixed assets from fixed asset
register and compare with the list of fixed assets
which are insured and the insurance coverage.
Procedure
• Extract a sample of fixed assets on materiality to
verify whether Insurance is valid and available for
all assets of significant value & usage.
Analytic Logic
70. Specific Use Case: Fixed Assets
Sample CAAT Queries Performed
1. Recompute totals for cost, depreciation
and net book values and verify with
actuals.
2. Recalculate depreciation figures and
verify with actuals
3. Recompute totals of additions match with
actuals
4. Recompute the value of assets disposed
with realized/book value and verify
whether profits or losses are correctly
computed and accounted.
5. Identify items with a large net book value
6. identify whether standard rate of
depreciation has been applied as per
asset category.
7. Verify whether the date of
purchase/installation and date used for
computation of depreciation are matched.
9. Identify assets transferred or acquired
from group companies and assess the
impact on materiality/reporting.
10. Identify items with zero or negative cost
and items where depreciation exceeds
cost
11. Identify fully depreciated items and
assets with zero value
12. Verify whether the same fixed asset has
been accounted twice based on invoice
value/supplier name.
13. Compare book and tax depreciation and
identify variances
14. Compare actual cost to budgeted cost to
highlight any significant variances
15. Compare useful lives of assets by
category and check whether correct rate
of depreciation has been applied..
70
71. Add in to MS
Excel. Blends
simplicity of MS
Excel with the
power of data
from Database!
Designed from
Assurance,
Controls &
Compliance
perspective.
Automate Audit
or MIS group of
functions and
perform them at
one go and also
save as template
to re-perform.
Makes Data
Analytics Simple,
Effective,
Affordable with
Short Learning
Curve.
Why use Auto eCAAT Pro?
Simplify and Automate
Analytics for CA Firms