Indiana University aims to incorporate computer-assisted audit tools and techniques (CAATs) in ensuring the accuracy of its financial statements. This normally includes using basic office productivity software such as spreadsheets, word processors and text editing programs and sometimes more advanced software packages involving use of statistical analysis and business intelligence tools. Programs are therefore continuously being developed to help campus administrators and fiscal auditors in internally analyzing the accuracy of their entity's financial statements.
Multi-Year Stale Balance Report - This report is used to highlight balance sheet object codes that have remained the same over the years. These balances are either stale and need to be adjusted or are a result of a recurring transaction whereby no further adjustments are necessary. Careful analysis of the object codes by the fiscal officer or campus administrator is necessary in dealing with these balances.
Account Negative Balance Report - This report highlights all balance sheet object code balances with a balance that is not normal to their natural balance. This means any asset object code balance that is a credit (negative) or liability object code that is a debit (positive), will be reported. Users will have to accommodate for contra accounts at their discretion. For more information on the Account Negative Balance Report and contra object codes, please read this section.
Material Transactions Report - This report is used to pull detailed, non-system generated transactions with absolute values of $5 million or greater. Units can readily identify individual entries at the account line-item level to review for accuracy and gather supporting documentation required for compliance with internal controls and external audit requests.