Digital Audit - Ankush Chirimar
Digital Audit - Ankush Chirimar
Digital Audit - Ankush Chirimar
ee/ankushchirimar
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Emerging technologies in Audit - Data Analytics Popular tools used as part of CAATs are
It is generating & preparing meaningful info from • Audit Command Language – It samples large
raw data using processes, tools & techniques. data to find irregularities indicating control
Data analytics methods used in audit are called weaknesses or fraud
Computer Assisted Auditing Techniques or CAATs. • Power BI – It is business intelligence platform
that provides non-technical users with tools
E.g. of tests performed using CAATs for analysing & sharing data & finding
• Existence of records outliers
• Data completeness • Alteryx - Fully transparent audit trail of
• Data consistency every action is performed in Alteryx in form
• Verify calculations of workflow
• Identify exceptions • CaseWare – It is data analysis software &
• Identify errors provide tools to conduct audit quickly,
• Duplicate payments accurately & consistently
• A/cs exceeding authorized limit
Common risks - Device hijacking, Common risks - Security, Common Risks of RPA -
data siphoning, denial of service Inappropriate configuration & Operational & execution risks,
attacks, data breaches & device Data privacy Change mgt risks & RPA Strategy
theft Risk
put on blockchain will expose enterprise to • Exchange - NFT exchanges take place with
liability for non-compliance with L&R cryptocurrencies on special sites
Common risks - Auditors shall ensure that org has Challenges of NFT –
necessary data mgt processes & complies with Ownership & copyright concerns, security risks,
regulations. He shall check that compliance market is not that wide, online frauds etc.
managers are following regulatory developments
constantly & adapting accordingly
E.g. of technology risks where auditors shall test controls for relying on digital systems
• Unauthorized access to data leading to destruction/improper changes to data
• Unauthorized changes to data in master files
• Unauthorized changes to systems/programs
• Failure to make necessary changes to systems/programs
• Potential loss of data or inability to access data
• Inappropriate manual intervention
• Possibility of IT personnel gaining access privileges beyond necessary
• Reliance on systems/programs processing inaccurate data or inaccurately processing data