Journal of Accounting and Management Information Systems (JAMIS)

AuditSmart - Software tool for audit missions

Supp/2006 ,   p599..603

Victoria STANCIU

Keywords:   CAATS, Audit, Sampling

Both types of audit missions (financial and internal audit) need software instruments. International audit practice standards advise the use of such instruments (called Computer Assisted Audit Tools or CAATS) to sustain and empower auditor’s work through different stages of the audit mission.
The Romanian software market has a poor offer for such instruments. This research proposes to design and build a software tool aimed at assisting audit activities. 
These requests for the CAATS were identified through a long process of observing and taking part in audit missions, quizzes and interviews of auditors and audit team members. The research included the web sites of important professional audit organizations and their recommendations regarding the audit tools used.
The research team stated the objectives and built the project management plan. We defined the system’s architecture, identified data extraction techniques and built the first modules of the application. The main priority was the building of the modules for automated sampling and analysis.