Continuous Auditing

Continuous auditing is an automatic method used to perform auditing activities, such as control and risk assessments, on a more frequent basis. Technology plays a key role in continuous audit activities by helping to automate the identification of exceptions or anomalies, analyze patterns within the digits of key numeric fields, review trends, and test controls, among other activities. The “continuous” aspect of continuous auditing and reporting refers to the real-time or near real-time capability for financial information to be checked and shared. Not only does it indicate that the integrity of information can be evaluated at any given point of time, it also means that the information is able to be verified constantly for errors, fraud, and inefficiencies. It is the most detailed audit.

Each instance of continuous auditing has its own pulse. The time-frame selected for evaluation depends largely on the frequency of updates within the accounting information systems. Analysis of the data may be performed continuously, hourly, daily, weekly, monthly, etc. depending on the nature of the underlying business cycle for a given assertion.


Read more about Continuous AuditingBackground, History of Continuous Auditing, Components of Continuous Auditing, Black Box Logging, Continuous Reporting, Implementation of Continuous Auditing, Software, Demand, Challenges, Comparison To Computer-Aided Auditing, Application Examples, See Also, External Links

Other articles related to "continuous auditing, continuous":

Continuous Auditing - External Links
... Rutgers Accounting Web The Future of Audit News on Continuous Monitoring 2009 IT Audit Benchmarking Study (The Institute of Internal Auditors) United States Patent and Trademark Office ... Continuous Auditing ...

Famous quotes containing the word continuous:

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