How would the use of auditing tools be useful

Problem: You are a supervisor of an accounting department. There are four other people who work in the department that you are responsible for:

Rosy, Accounts Payable person

Susan, Accounts Receivable person

Sharon, assistant to Rosy

Michelle, assistant to Susan

You have just discovered that some money is missing from the petty cash drawer which is kept in the vault. Due to the nature of their work, both Rosy and Susan (plus yourself as supervisor) have access to the vault where the blank checks and previous years' records are kept, among other items.

What is your next step? How will you handle this situation? How would the use of auditing tools (CAATs or software) be useful?

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