Harnessing the Power of Continuous Auditing: Developing and Implementing a Practical Methodology / Edition 1by Robert L. Mainardi
Pub. Date: 03/01/2011
Continuous auditing is one of the many tools utilized within the internal audit profession to provide reasonable assurance that the control structure surrounding the operational environment is suitably designed, established, and operating as intended. It uses a set of tools to check whether a company's financial information is handled correctly and if internal… See more details below
Continuous auditing is one of the many tools utilized within the internal audit profession to provide reasonable assurance that the control structure surrounding the operational environment is suitably designed, established, and operating as intended. It uses a set of tools to check whether a company's financial information is handled correctly and if internal controls are functioning to prevent errors and fraud. However, there has always been an active discussion as to how to effectively incorporate the targeted testing methodology into an existing audit department. In Harnessing the Power of Continuous Auditing, author Robert L. Mainardi distills his decades of auditing experience to provide step-by-step guidance on how to create, implement, and manage continuous auditing in any organization.
Providing a lucid definition of the continuous auditing methodology as well as practical guidelines for successfully defining, developing, communicating, implementing, managing, and maintaining the approach, Harnessing the Power of Continuous Auditing is designed to help auditors, company executives, business unit managers, practitioners, and consultants enhance corporate governance in their organizations.
Encompassing concept, strategy, and implementation, Harnessing the Power of Continuous Auditing skillfully addresses:
- The significant differences between continuous auditing and continuous monitoring
- Potential need and fit considerations
- Identifying existing technology
- The three phases of continuous auditing: foundation, approach, and execution
- Addressing root cause and action plans
- Internal audit conditions
- Selling continuous auditing to the business unit management, audit team, and external clients
- Uses and users
- Myths and truths about the methodology
- Risks and challenges
- Tools to evaluate and record the successes
- Opportunities for improvements
A vital tool for all business professionals interested in a target approach to evaluating the effectiveness of critical controls, Harnessing the Power of Continuous Auditing provides a practical how-to guide to help define, develop, communicate, create, implement, manage, and maintain continuous auditing with triumphant results.
Table of Contents
Chapter 1: Defining Continuous Auditing.
The Real Definition.
Differentiating Continuous Auditing.
Segregating Continuous Auditing and Control Testing.
Continuous Auditing Objectives.
Dispelling the Continuous Auditing Myths.
Chapter 2: Where to Begin.
Recognize the Need.
Potential Need/Fit Considerations.
Client Relationship Score.
Chapter 3: Continuous Auditing Methodology Development.
Continuous Audit Methodology.
Chapter 4: Preparing for a Continuous Audit.
Building the Business Knowledge.
Developing Business Knowledge.
Understanding the Rules.
Chapter 5: Continuous Auditing: Foundation Phase.
Chapter 6: Continuous Auditing: Approach Phase.
Criteria and Attributes.
Chapter 7: Continuous Auditing: Execution Phase.
Chapter 8: Root Cause Analysis.
Root Cause Defined.
Do I Need to Find Root Cause?
Root Cause “Why” Approach.
Root Cause Keys.
Chapter 9: Continuous Auditing Reporting and Next Steps.
Reporting and Next Steps.
Advantages and Disadvantages of Report Type.
Reporting Options Summary.
Chapter 10: Action Plans.
Addressing Root Cause.
Creating the Perfect Action.
Components of Real Action Plan.
Action Plan Tracking.
Chapter 11: Continuous Auditing Conditions.
Business Unit Management Conditions.
Internal Audit Conditions.
Chapter 12: Selling Continuous Auditing.
Business Unit Management.
Chapter 13: Continuous Auditing Challenges.
Internal Audit Department.
Chapter 14: Continuous Auditing Uses and Users.
Uses and Users.
Chapter 15: Continuous Auditing Lessons Learned.
Lessons Learned Template.
Appendix: Continuous Auditing Guidance.
About the Author.
and post it to your social network
Most Helpful Customer Reviews
See all customer reviews >