Guide 3: Continuous Auditing: Implications for Assurance, Monitoring, and Risk Assessment

GTAG 3 Cover Guide 3: Continuous Auditing: Implications for Assurance, Monitoring, and Risk Assessment
Organizations are continually exposed to significant errors, frauds or inefficiencies that can lead to financial loss and increased levels of risk. An evolving regulatory environment, increased globalization of businesses, market pressure to improve operations, and rapidly changing business conditions are creating the need for more timely and ongoing assurance that controls are working effectively and risk is being mitigated. These demands have put increased pressure on chief audit executives (CAEs) and their staff.

Continuous auditing changes the audit paradigm from periodic reviews of a sample of transactions to ongoing audit testing of 100 percent of transactions. This guide focuses on assisting CAEs with identifying what must be done to make effective use of technology in support of continuous auditing and highlights areas that require further attention. It provides continuous audit guidance that will benefit the organization by significantly reducing instances of error and fraud, increasing operational efficiency, and improving bottom-line results through a combination of cost savings and a reduction in overpayments and revenue leakage.

Author
David Coderre, Royal Canadian Mounted Police
Subject matter experts
John Verver, ACL Services Ltd.
J. Donald Warren Jr., Center for Continuous Auditing, Rutgers University

Download this guide (PDF, 1 MB).
Purchase the printed version.
Download GTAG^® Guide 3 PowerPoint slides (PPT 109KB).
Download form for permission to translate to another language (Word, 95KB)

Quick Search Advanced Search Site Map IIA Popular Pages Find Your Local IIA Look for Jobs Standards & Practices Discussion Groups On-site Programs		Home / Professional Guidance / Information Technology / GTAG / GTAG3 Guide 3: Continuous Auditing: Implications for Assurance, Monitoring, and Risk Assessment Organizations are continually exposed to significant errors, frauds or inefficiencies that can lead to financial loss and increased levels of risk. An evolving regulatory environment, increased globalization of businesses, market pressure to improve operations, and rapidly changing business conditions are creating the need for more timely and ongoing assurance that controls are working effectively and risk is being mitigated. These demands have put increased pressure on chief audit executives (CAEs) and their staff. Continuous auditing changes the audit paradigm from periodic reviews of a sample of transactions to ongoing audit testing of 100 percent of transactions. This guide focuses on assisting CAEs with identifying what must be done to make effective use of technology in support of continuous auditing and highlights areas that require further attention. It provides continuous audit guidance that will benefit the organization by significantly reducing instances of error and fraud, increasing operational efficiency, and improving bottom-line results through a combination of cost savings and a reduction in overpayments and revenue leakage. Author David Coderre, Royal Canadian Mounted Police Subject matter experts John Verver, ACL Services Ltd. J. Donald Warren Jr., Center for Continuous Auditing, Rutgers University Download this guide (PDF, 1 MB). Purchase the printed version. Download GTAG^® Guide 3 PowerPoint slides (PPT 109KB). Download form for permission to translate to another language (Word, 95KB)		Global Technology Audit Guides (GTAG^®) Guide 1 Guide 2 Guide 3 Guide 4 Guide 5 Guide 6 Guide 7 Guide 8 Guide 9 Guide 10 Guide 11 IT Resources Review some of the latest IT Resources available for IT auditing. GAIT Project Learn more about the ongoing IT auditing guidance project known as the Guide to the Assessment of ITGeneral Controls Scope Based on Risk (GAIT). Information Technology