Computer Assisted Audit Techniques (CAATs) such as IDEA (Interactive Data Extraction and analysis) and ACL , gave been a part of the forensic auditor tool kit for a number of years. The use of Information Technology in forensic auditing and accounting is undoubtedly an important means of gathering evidence and analysing data.
Critically discuss the value of software packages such as IDEA and ACL in the accumulation and analysis of data for the forensic auditor and accountant. Illustrate discussion with specific examples in respect of the practical application of these named software packages.
Give one example from the IDEA software (with print screen) about:
– Sort + field statistics.
– Extraction. (analytical review)
– Gap detection. (duplicate invoices)