Continuous Auditing Uses and Users
Uses and Users
In this chapter, we identify and discuss some examples of specific uses and users of the continuous auditing methodology. Every company and its audit department, compliance division, or enterprise risk team have objectives that they have committed to completing during the year. Those objectives contain specific deliverables usually tied to the evaluation of the control environment as it relates to federal, state, and local rules and regulations; internal company policies and procedures; or the individual risk assessment of a particular operational business function. Regardless of the objective detail, multiple users use the continuous auditing methodology to evaluate risk and the effectiveness and efficiency of the corresponding control environments in which these identified risks are present. This chapter is divided into two sections so that there can be a clear distinction between the suggested uses for the continuous auditing methodology and the individual users who implement the approach to meet their own objectives. The discussion begins with the proposed uses of the continuous auditing methodology.
The continuous auditing methodology is unique in that not only does it provide internal audit departments with an alternate approach to complete control evaluation testing but also can be used by any other business unit that wants to ensure that processes it has developed and implemented are performing according ...