Description

Computer Spreadsheet- Use And Analysis For Audit

And Advanced Computer Based Tax Audit

About the Course:  

Auditors examine financial records and statements to determine the validity of information, and to check for fraud. They ensure that individuals, companies and government agencies are compliant with tax laws. Auditing is a vital part of Tax administration. 

Information technology has significantly impacted internal auditors both in what we audit as well as tools we use on a daily basis. One of the first business applications developed for the personal computer was the spreadsheet. 

Spreadsheets have been standard tools for auditors since the early days of personal computers.

Revenue is increasingly moving away from traditional audits and using technology to carry out detailed examinations of taxpayers’ business records. 

Excel is a powerful data interrogation tool for tax auditors, accountants, tax advisers, finance executives or anyone who has a need to examine data and produce tailored reports quickly and easily. With Ms-excel, complex analyses of data, extractions of unusual items, audit samples, searches for duplicate transactions and many more functions are easy to conduct. 

LEARNING OBJECTIVES

Upon completion of this workshop, participants should be able to:

• Learn how to import different types/sources of data for analysis and understand the types of formatting that Revenue will request

• Leverage features of Microsoft Excel to facilitate tax audit  decisions

• Develop intelligent worksheets to quickly carry out tax audit

• Perform "what-if" analyses for developing audit  plans

• Summarize and analyze large amounts of data using PivotTables and Excel features

• Automate audit using Excel processes

• Discover how to interrogate and validate tax-related transactions and data

• Find out how it is likely to be used in audit investigations

• Carry out tax-related testing on relevant data

• Learn how to prepare reports on the data you have analysed

Target Participants: 

• IT Directors / IT Managers

• Middle and Senior Level Officers who engage with Revenue on Audits.

• In-house tax executives/directors with responsibility for managing risk and interactions with Revenue

Why does a revenue/tax agency need this Training?

• Revenue auditors are strengthening their expertise in the application of e-Audit techniques and methodologies. 

• Excel  software can find more in 3 hours of data interrogation than 3 days of manual checks

• Excel software may also identify errors that can lead to savings, e.g. where an incorrect VAT rate has been applied.

• Excel software can also assist you with your tax management processes and reduce the time spent in tax audit