CAATS it if you can

Article Abstract:

The introduction of new software has enabled anyone interested in doing data analysis to use computer-assisted auditing techniques (CAATs). CAATs have been used before, but only by accountants, for gathering data for audit purposes. The introduction of new software packages designed for CAAT purposes has enabled non-accountants to have quick access to processed data for analyzing marketing trends and sales shifts. These new tools have a wide range of applications and offers great benefits to anyone needing timely information.

Software, Accounting, Accounting software

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A matter of forms

Article Abstract:

The reliability of bank confirmations as an auditing tool is brought into question with the high error rate in returned confirmations. Members of the chartered accountant profession and the Canadian Bankers Assn. have considered ways to revise the bank confirmation process. It is recommended that the process and form should be modified. Revisions include recording of names and account numbers of the deposit accounts by the client, removal of detailed description of the collateral and elimination of other information.

Financial Services, Finance and Insurance, Accounting and auditing, Financial institutions

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On your mark ...

Article Abstract:

The Year 2000 problem is not only the concern of a few people in an organization. For one, people involve in the company's finances, like the auditor,is more than responsible in looking into the problem. It cannot be discounted that failure to do so may result to huge data processing errors brought about by either total systems failure or unrecognized transactions with year 2000 dates. The auditor may have to consider the year 2000 problem when planning an audit and its effect on inherent and control risks.

Prepackaged software, Business management software, Year 2000 transition (Computers), Information management software, Auditors

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