Assignment: Week # 5 Discussion # 1
Discussion Title: ” Automated Auditing ”
CAATTs can be helpful when dealing with immense amounts of data. However, developing a CAATT system can be time consuming. Argue for or against the use of CAATT systems.
Identify the key elements of building an effective CAATT system. Elaborate on two (2) challenges faced when designing an effective CAATT system, and suggest possible solutions to these problems.
- A CAATT system stands for Computer-Assisted Audit Tools and Techniques. CAATT is used for automating audits that are needed. You can use software like basic office systems for auditing. You can also use software like Splunk. Splunk aggregates multiple databases into one SaaS. With that you can do multiple searches and automate actions off of that for auditing. This saves a lot of time when looking at various databases. There is a downside like many CAATT’s; the set up and training takes time. Is the benefit of the solution worth the time needed for training? Setting up filters to filter the large amounts of data that is aggregated is much more efficient than looking at various sources and trying to extrapolate off of that. There are risks or challenges that you have to look out for. A few risks would include false conclusions from the data for someone that doesn’t know what they are look at and setting up of filters incorrectly that can give you bad data.