Chapter 9

Continuous Auditing Reporting and Next Steps

Reporting and Next Steps

In this chapter, we identify and discuss the two different formats to consider for the reporting phase of the continuous auditing methodology. With this type of customized audit approach, there are a couple of different options available to formally convey the results of the completed continuous auditing testing. In this chapter, both formats are identified and discussed along with the advantages and disadvantages of using each type of report. The specific nature of a continuous auditing methodology requiring recurring testing causes concern when it comes to reporting because no internal audit department wants to issue more reports. That is why this chapter also covers the creation and distribution of formal reports as well as recommended techniques to assist in the delivery and acceptance throughout the entire continuous auditing program. The other reporting component covered is the five-component approach to developing report exceptions. With the frequency of delivery coupled with the concise report format, it is absolutely necessary that the exception be well written, direct, and clear. To deliver a high-impact report, we break down and explain the five-component approach.

In addition to the reporting process, the chapter reviews the next steps for completing an audit executed under the continuous auditing methodology. Due to the unique requirements of the foundation, approach, and execution phases ...

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