Considerations Concerning the Analysis of Audit Evidence Using Software Tools
Author:
Lucian Cristian ENI, Ph. D. Student
JEL:
M42
DOI:
Keywords:
computerized audit evidence, software tools, data analysis, financial audit, fraud, CAATs
Abstract:
The objective of the study was to present and to illustrate the data analysis software functions. Auditors could use the data analysis software to identify fraud, breaks in audit control programs and/or anomalies in accounting records. The reasons to approach this topic are related to the current challenges that the auditors face: nowadays the audit trail is mainly electronic and there is a significant need to analyze mounds of information during an audit mission. In addition, the study revealed that the majority of software functions had not been investigated extensively by Romanian professional literature. The research aimed to obtain a list of data analysis software functions, more comprehensive but not exhaustive, based on a review of foreign literature, recent articles published and author`s observation. The result is a list that comprises a short description of data analysis software functions and a series of examples and case studies to illustrate better the use of functions. The author used audit software tools such as: ACL, ActiveData for Excel, Excel in case studies concerning the following data analysis functions: joining files, digital analysis using Benford`s law, duplicate testing, vertical or horizontal ratio analysis etc. In conclusions, the paper emphasized that the future research could examine other data analysis functions not covered by this article and other computer-assisted audit techniques (CAATs) such as: centralized data analysis, big data analytics or continuous monitoring data analysis.\r\n