The information in the second edition of GTAG 3: Continuous Auditing: Coordinating Continuous Auditing and Monitoring to Provide Continuous Assurance, provide practitioners the most up-to-date guidance and best practices to enable them to successfully implement a continuous auditing approach. It focuses on technology-enabled aspects of continuous auditing and addresses:
- A definition of related terms and techniques including continuous auditing, ongoing control assessment, ongoing risk assessment, continuous monitoring, and assurance.
- The role of continuous auditing in relation to continuous monitoring.
- Areas where continuous auditing can be applied by the internal audit activity.
- Challenges and opportunities related to continuous auditing.
- The implications for internal auditing, the chief audit executive, and management.
The guide* provides the key considerations practitioners need to implement continuous auditing, which will ultimately help them develop a better understanding of the business environment and the risks to the company to support compliance and drive business performance.
*Under Review: This practice guide contains some outdated material and references. It remains available while a review is underway.