Continuous Auditing - Training - The Institute of Internal Auditors (IIA)
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Continuous Auditing

Your opportunity to...
  • Learn what continuous auditing is and how you can implement this process into your audit, enterprise risk management, compliance, or business operations.
  • Gain an understanding of the requirements of implementing this process as well as the required conditions from an audit, client, and technology perspective.
  • Understand the continuous auditing methodology, review a detailed example, and practice creating a customized continuous auditing program.
  • Obtain the tools and templates for implementing a successful continuous auditing program for your operations.
Calling all...
  • Auditors at all levels who participate in the planning, execution, and/or reporting phases of an audit.
  • Enterprise Risk Management personnel responsible for evaluating and consolidating risks at the corporate level.
  • Compliance personnel responsible for ensuring that the business operations are in compliance with the applicable federal and state rules and regulations.
  • Financial professionals or business managers who may be interested in setting up a "monitoring" type process.
Course Description

Prerequisites: None
Advanced Preparation: None
Delivery Method: Group-Live

Whether or not your audit shop has the latest automated technology, continuous auditing may be an effective option for you. Continuous auditing involves performing control and risk assessments on a frequent basis, if not virtually in real-time. Recently, the need to accelerate audit activities has led to the increased adoption of continuous auditing as a vital monitoring tool. This course walks through the process of continuous auditing from start to finish, and prepares you to create your own customized continuous audit program. Participants will have an opportunity to review a detailed example and practice creating a customized continuous auditing program.

As an added bonus, course participants will receive a complimentary copy of "Harnessing the Power of Continuous Auditing" (a US $75 value). This publication, which will be used as a resource during the course, is also a valuable desk-reference on everything business professionals need to know in order to conduct and implement a successful continuous audit in their organizations.

Course Outline
Defining Continuous Auditing
  • Definition
  • General background and evolution
  • Key differences between CA and continuous monitoring
  • Dispelling the myth – CA vs. control testing
Conditions for CA
  • Identifying and describing the proper conditions for implementing CA
  • Business knowledge requirements and how to obtain them
  • Do I need technology skills to make this work?
CA Uses and Users
  • Identifying and describing the uses for CA
  • Who, why and how are audit shops currently using CA
  • Large audit shops vs. small audit shops
  • Who benefits most
Establishing CA – The Prep
  • Creating a plan
    o Business knowledge development and the tools for success
    o The SIPOC advantage
    o Knowing the “Rules”
    o Identifying key systems
Model Outline – Foundation
  • Foundational Four-Step
    1. Target Area
    2. Testing Objectives
    3. Frequency Determination
    4. Testing Technique
Model Outline – Approach
  • Creating the test procedures
    o Scope
    o Volume
    o Sampling
    o Criteria and Attributes
    o Technology
Model Outline – Execution
  • Performance
  • Exception identification
  • Results summary
  • Reporting Options
  • Next Steps
CA Customization
  • Development of attendee specific CA
    o Business specific
    o Take home tools
CA Summary
  • Summarize concepts of development
  • Discuss successes and roadblocks
  • Open forum
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