Continuous auditing: putting theory into practice
One internal auditing topic that has been of great interest to me over the years is that of continuous auditing. I believe that the technique offers a great opportunity for internal auditing to move to the next level of service and value to its stakeholders – providing them with the assurance they need, when they need it.
I have previously shared a paper I wrote on a concept I call Continuous Risk and Control Assurance, and received excellent feedback for it.
Recently, I was asked to contribute a chapter on continuous auditing to a forthcoming internal auditing book. I was happy to do so, and can share the draft with you for comment.
Both of these documents can be downloaded from my LinkedIn profile page (in the Norman Marks’s Files section, where I have several documents of interest available for download including a report from KPMG on continuous auditing). Direct links to the two documents are:
Do the views in these papers match with yours? Have you achieved broad success in your continuous auditing program (i.e., it is not limited to a focus on fraud detection, or errors in transactions, but extends to multiple business risks)?