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AuditNet® Book Reviews October 2003
Payables Test Set for ACL
by Richard B. Lanza
It is very rare that you see authors provide practical solutions to
everyday audit situations in a logical and understandable format. In the
Effective Analyst Series of books published by
Ekaros Analytical Inc. Richard B. Lanza, the appointed guru of data and
risk analysis auditing and computer aided audit tools and techniques, hits
the nail right on the head! If you are considering the use of a data
analysis tool such as ACL
or
Caseware-IDEA then the books in this series are a must have! In the
Payables Test Set for ACL, Rich walks users through the reasons why they
should be auditing payables, a comprehensive list of audit objectives, audit
questions and the ACL batches. After reading Rich’s easy to understand
explanation why would any reasonable auditor not consider routine accounts
payable audits? He takes you through each of the areas such as Staying
Effective and Efficient, Are Transactions Authorized (Internal and
External)? Are Transactions Accurate and Complete? Safeguarding Check
Processing, Audit Trails and Reporting, Statistics and Sampling. The author
describes each area so that ACL beginners can understand the mechanics
behind the ACL applications provided on the accompanying CD-ROM. The CD-ROM
contains a set of sample data files, a sample data request letter and
articles and other resources for developing continuous monitoring systems.
While I am not an ACL user, I could see that the Payables Test Set for ACL
is a must have for beginners and advanced users of the software. If you
currently do not use a computer aided audit tool such as ACL or IDEA, you
will immediately see why you should consider adding one to your audit tool
box. The Payables Test Set for ACL is just one more reason why CAATs rule!
To order the Payables Test Set for ACL contact
Ekaros Analytical
Phone 604-817-0734
Fax 435-304-4392
Cost: $200 U.S.
$300 CAN
Contact the author Richard B. Lanza at
rich@richlanza.com
