Computer-assisted audit techniques

Computer-assisted audit techniques (CAATs) includes tools used by auditors during their work. These tools allow auditors to receive data in any form and analyze it better. CAATs include various methods that can help auditors in many ways. For example, auditors can use them to identify trends or single out anomalies in the provided information. These tools are available for both external and internal audit uses. In essence, computer-assisted audit techniques refer to the use of technology in auditing. Using these tools, auditors can assess several aspects of their audit engagement. Whether evaluating the client’s internal controls or extracting specific information, CAATs can be significantly valuable. While some assume CAATs apply to extensive audits only, these tools are beneficial in any size audit [Accounting Hub].

Computer Assisted Audit Techniques or CAATS can be defined as an auditing method that uses computer software tools to query business data to produce reports that will enhance an audit. CAATs can sometimes be known as CAATTs (Computer Assisted Audit Tools and Techniques) or BEASTs (Beneficial Electronic Audit Support Tools) [Data Consulting].

Sources:

Computer-Assisted Audit Techniques (CAATs): Definition, Types, Advantages, And Disadvantages. Accounting Hub. Retrieved from: https://www.accountinghub-online.com/computer-assisted-audit-techniques

Knowledge base – What are CAATs? Data Consulting. Retrieved from: http://www.dataconsulting.co.uk/knowledge-base-what-are-caats