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Computer-Assisted Audit Techniques (CAAT)

Software-based techniques used to extract, analyse and test data directly from a client's systems, rather than relying solely on manual inspection.

Related terms

  • Composite Supply

    A supply of two or more goods or services naturally bundled and supplied together in the ordinary course of business, taxed at the rate applicable to the principal supply.

  • Composition Scheme

    A simplified GST scheme for small taxpayers below a specified turnover threshold, paying tax at a fixed, lower rate on turnover and generally unable to claim input tax credit.

  • Consignment Stock

    Goods held by one party (the consignee) but still owned by another (the consignor) until sold — a frequent source of inventory cut-off and ownership errors.

  • Continuous Auditing

    Performing audit procedures on an ongoing basis throughout the period rather than only at year end, enabled by systems that make data available in near real time.

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231 terms in total, or go deeper with working procedures and worked examples in the resource library.

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