Understand the structure of continuous auditing

The increase in corporate responsibility and regulatory pressure drive professionals to auditing to develop new ways to increase effectiveness and efficiency in their work. Annual reviews are often insufficient. Consequently, the auditing continuous is necessary to meet the needs of a company's stakeholders.

A auditing Continuous tests transactions based on prescribed criteria, identifies anomalies, and is the responsibility of the auditor. Today, companies are investing more time and money in auditing continuous. However, success is limited to some larger organizations with the necessary resources to carry out their implementation because sometimes, a company spends a relevant amount to implement these processes, but does not obtain value from them, because it does not know the appropriate methods that they must use when implementing the procedures of auditing continuous.

Companies don't need complex data analysis tools or a large budget to employ an effective data analysis program. auditing continuous. Organizations in the software market of auditing can take advantage of a variety of tools. Those with little or nothing to spend can still get a auditing Continue to be effective with simple but powerful tools, such as Excel, and thinking differently about the data you already have.

The control test of auditing internal, for example, is risk-based and generally performed months after the occurrence of business activities. The test is based on a sampling approach and includes reviews of policies, procedures, approvals, and reconcilations. Today, it is recognized that this approach offers internal auditors a restricted scope of assessment and, at times, it is too late to have real value for business performance or regulatory compliance. A auditing continuous is a method used to carry out control and risk assessments automatically and more frequently.

A auditing Continuous focuses on testing the prevalence of a risk and the effectiveness of a control. A detailed structure and procedures, along with technology, are critical to enable this approach.

A auditing continuous offers another way of understanding risks and controls and enhances the sampling from periodic reviews to continuous tests. It is important to note that it is not intended to replace auditing traditional, but it must be used as a tool in the implementation of certain procedures of auditing standard, to improve the methodology and effectiveness of auditing. For example, the auditing Continuous can occur through the analysis of trends in expense accounts to identify variations or drivers and alert the team of auditing about a possible problem.

The results of auditing continuous are incorporated into the risk identification and assessment process of auditing internal, which can help with resource allocation. The process is then repeated or continued through the same steps, adding more complex items.

Contact TATICCA — ALLINIAL GLOBAL, which provides integrated auditing services, internal auditing, accounting, taxes, corporate finance, financial advisory, risk advisory, technology, business consulting and training, for more information, at www.taticca.com.br or e-mail taticca@taticca.com.br and learn more. Our company has certified methodologies for carrying out activities.

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