Page 251 - CA Final PARAM Digital Book.

- Report Findings and Recommendations: Provide recommendations for improving internal controls,

security measures, compliance procedures, and overall efficiency and effectiveness of the pilot
program.
- - Communicate the audit results to the relevant stakeholders, highlighting areas of concern and
suggesting remedial actions.

QNO RPA Steps & Benefits New Course – (SM23)
DAA.990 TITANIUM CNO -- Unique
A company is planning to use Robotics process automation (RPA) to streamline its hiring process. Earlier,
the company used to hire from campuses of various management institutes leading to high recruitment
costs, inefficient hire yield and resultant lack of diversity. How RPA can be used to automate the hiring
process? List out tentative few such steps. What could be likely benefits of using RPA in hiring process?
Answer RPA can be used to streamline hiring process in a company. The tentative steps could include: -

➢ Place advertisements on social media/career advice sites.
➢ Link redirects candidate to a career site.
➢ Career site pulls information of candidate.
➢ An algorithm scans applicants for desired and suitable roles.
➢ Selected candidates may be asked to play online games to assess their skills.
➢ A certain percentage of those applicants are called for a video interview using an interview software.

The automated hiring process will reduce full time effort involvement, provide with a wider assessment
range, reduce the impact of recruiter biases, increase the efficiency of mapping of interested candidates,
reduce recruiting costs, increase hire yield, reduce time to hire, increase diversity.

QNO Tests Performed by CAAT New Course – (SM23)
DAA.995 TITANIUM CNO -- Unique

CA Y is planning to use CAATs extensively in audit of a company-be it for compliance tests or substantive
tests. Can you list out examples of few situations (in brief) of tests performed by him using CAATs?
Answer (i) Identify exceptions: Identify exceptional transactions based on set criteria. For example, cash
transactions above ₹ 10,000.

(ii) Identify errors: Identify data, which is inconsistent or erroneous. For e.g.: account number which is
not numeric.

(iii) Verify calculations: Re-perform various computations in audit software to confirm the results from
application software confirm with the audit software. For e.g.: TDS rate applied as per criteria.

(iv) Existence of records: Identify fields, which have null values. For example: invoices which do not have
vendor name.

(v) Data completeness: Identify whether all fields have valid data. For example: null values in any key
field such as date, invoice number or value or name.

(vi) Data consistency: Identify data, which are not consistent with the regular format. For example:
invoices which are not in the required sequence.

(vii) Duplicate payments: Establish relationship between two or more tables as required. For example,
duplicate payment for same invoice.

(viii) Accounts exceeding authorized limit: Identify data beyond specified limit. For example, transactions
entered by user beyond their authorized limit or payment to vendor beyond amount due or overdraft
allowed beyond limit.

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