Harnessing the Power of Continuous Auditing 18 doc

... easily: 8 & Defining Continuous Auditing FLAST 11/23/2010 16 :18: 37 Page 17 Harnessing the Power of Continuous Auditing C01 11/23/2010 16:9:4 Page 11 objectives. For one, the application of continuous auditing ... are a few of the myths along with the corresponding truths. Dispelling the Continuous Auditing Myths & 11 FFIRS 12/10/2010 14:5:48...

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... address the opportunities for improvement identified during the execution phase of the conti nuous auditing methodology. xii & Preface FFIRS 12/10/2010 14:5:48 Page 3 Harnessing the Power of Continuous ... all. The true key to a successful continuous auditing implementation is not the type of technology solution used but the detailed, documented continuou...

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... up one of the most critical components of the approach phase of the continuous auditing methodology. The complete and full development of this plan determines the success or failure of a continuous ... aspect of testing in the continuous auditing environment. Identification of Technology Needs The most critical step in the consideration of incorporatin...

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... the implementation stage of the execution of work will impact the quality of the continuous auditing report as well as take longer to execute the continuous auditing program due to the lack of ... require- ments. To ensure the long-term success of the continuous auditing program, the responsible auditor must provide a detailed overview of the conti...

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... expedite the documentation of the continuous auditing meth- odology and reduce the amount of development duplication, the audit team can use the existing audit methodology as a guide/outline. The continuous auditing ... the formal documentation requirements of the approach. Do not confuse or combine the purpose statement with the detailed objective of the...

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... impact on the business unit. This could not be further from the truth. The fact of the matter is, the more direct and focused the continuous auditing objective is, the more useful the results. Also, ... for the first time as part of our discussion of the development of a continuous auditing meth odology. The detail presented in this section defines and expl...

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... by documenting the purpose of the audit and assessing the level of effectiveness of the control(s) tested and the detailed exceptions supporting the overall rating that assesses the strength of ... definition, a document that provides a detailed explanation for the work completed during the continuous auditing pro- gram. The objective of this document is to co...

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... validation targeted by the continuous auditing program. The goal of the approach review is to ensure that there is a direct link among the critical components of the continuous auditing methodology: ... because of the recurring nature of the testing and the targeted focus on the testing performed. Given the challenging time frames associated with the exec...

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... objective development of the auditing methodology and focus of the audit to be completed. In the continuous auditing methodology, the approach focuses on validation of the performance of the key control ... often, however, the sheer magnitude of the systems involved makes them misunderstood. Knowledge of the critical systems could impact the overall effec...

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... THREE Continuous Auditing Methodology Development CONTINUOUS AUDITING METHODOLOGY In an effort to expedite the documentation of the continuous auditing meth- odology and reduce the amount of development ... maintenance of its specific continuous auditing program. The aim of the purpose statement is not to convince the reader that this tool is needed but to e...

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