Provide More Value with Timely Insight
Automating analytics to run on a continuous basis allows for auditors to move from a historical, ad-hoc review process to a more proactive approach. Rather than identifying control breakdowns and instances of fraud, errors and abuse that have occurred in the past, audit teams can now meet the increasing expectations of audit committees and management through immediate insight.
Create a More Efficient and Effective Audit Process
By achieving a higher level of audit automation and tracking risk and control issues, organizations will have a more efficient and effective audit process overall. Your audit team can keep easily track high risk control issues and focus valuable resources on these areas. At the same time, the effort to perform audit procedures that are typically expected in core business process areas can be dramatically reduced if Continuous Auditing procedures show that there are no significant issues.
Expand Your Audits to Cover More Areas, More Often
Continuous Auditing allows senior audit management to provide a greater level of insight to the audit committee and business management. For example, the results of ongoing concurrent auditing that have taken place over key business process areas, in addition to special areas of current risk and concern. By leveraging continuous and automated analysis, audit teams can gain greater coverage across multiple business process areas without an increase in staff resources.