3/17/2024 0 Comments Caseware idea error“It does not matter whether it is due to an error or fraud – if it is a material misstatement, auditors need to identify it. Steyn said that although auditors cannot be expected to identify 100% of fraud in all cases, they have an obligation to find material misstatements that would change the audit opinion. This is because of the explosion of the amount of data available to auditors, together with the fact that risk-based auditing is now the expected standard for external audits, as well as the focus on the analysis and management of risk that’s applied within the risk-based auditing approach.” “It is now more important than ever for auditors to look at all of the data in the audit, rather than just a sample. “Auditing teams spend a significant amount of time selecting samples and analysing client’s data for audit engagements,” said Christiaan Steyn, Assurance Product Manager, CaseWare Africa. CaseWare Africa, a division of Adapt IT, has released details of its latest product addition, CaseWare IDEA Data Analysis – a comprehensive powerful data analytics tool that guarantees data integrity, accelerates the performance of data analytics, and enables faster, more effective external audits.
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