You must answer TWO of the following Discussion Questions. Your initial responses for the questions are due by Sunday.

In addition, periodically read through the posts of other classmates during the week and comment on the post of two other students for any of the questions.

Post your initial response to each question in a new thread with question number and your last name in the subject line (e.g. DQ1-Vardhana).

DQ1. I want every student to respond to this discussion topic as one of your two original postings.

One of our readings for the week deals with the advantages and disadvantages of different types of audit tests. When you go into KnowledgeLeader to read this brief article, there are two related links. One of them is a link to some case studies. Another to the right side on the screen is a link to a list of CAATs tests. Review one of the case study topics and then go and take a look at the list of CAATs tests related to that topic. Summarize in your own words what you learned.

DQ2. The quality of an internal auditor's conclusions depend on their ability to gather and evaluate evidence. What are some of the barriers/obstacles to obtaining appropriate and sufficient evidence?

DQ3. Find and summarize a case study about how an internal audit department is using one of the following software packages:

IDEA ACL Tableau SAS Monarch Wizrule

DQ4. Provide an actual example from your work experiences or research dealing with the following comment related to inspection and observation.

Manuals, flowcharts and other procedural documentation may not accurately reflect how the process works or may not cover all the significant exception conditions. There are formal systems for getting work done and informal systems. Many times the informal systems are the way most of the work really gets done. People will bypass formal systems if the processes are deemed to be too cumbersome, slow or restrictive.

https://pcaobus.org/Standards/Auditing/Pages/AS1105.aspx

http://www.knowledgeleader.com/KnowledgeLeader/Content.nsf/Web+Content/ChecklistsGuidesAuditTests-TypesAdvantagesDisadvantages!OpenDocument

http://www.casansaar.com/files/1332694934excel-audit-software.pdf

https://www2.deloitte.com/content/dam/Deloitte/uy/Documents/audit/Monitoreo%20continuo%20y%20auditoria%20continua.pdf

http://www.knowledgeleader.com/KnowledgeLeader/Content.nsf/Web+Content/GUBigDataAnalysis