Describe how you would carry out your audit procedures using the following computer assisted audit techniques (CAATs):(i) Parallel simulation (ii) Embedded Audit Module

      

Describe how you would carry out your audit procedures using the following
computer assisted audit techniques (CAATs):
(i) Parallel simulation
(ii) Embedded Audit Module

  

Answers


gregory
(i) Parallel simulation
In which actual client data is processed using a copy of the client‘s software
and isunder the control of the auditor. The data processed on the auditor‘s
copy of the software is compared to the data previously processed by the client to
ensure that the processing is identical. This procedure provides evidence as to the
effectiveness of design of programmed control procedures as well as aspects of the
effectiveness of operation.
(ii) Embedded Audit Module
Is a CAAT in which code prepared by the auditor is embedded in the clients software.
The code may be designed for example, to replicate a specific aspect of control
procedure, or to record details of certain transactions in a file accessible only to the
auditor. Thus, this audit software may be used as both a test control or as a substantive
procedure. This CAAT is particularly applicable to continuous auditing.
gregorymasila answered the question on November 27, 2017 at 13:09


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