Overview
Continuous Auditing is a process that examines business processes on an ongoing basis. CA allows for near real time assessments of controls as the activity is usually technology-driven and designed to automate error checking and data verification in real-time. Typically, event driven controls can be assessed as they occur or on a periodic basis. Continuous Auditing helps companies shift from cyclical or episodic reviews with limited focus to continuous, broader, more proactive reviews. In the end, the process reduces audit costs, while increasing effectiveness through technology solutions. CA can most effectively be utilized for controls typically designed for accuracy, completeness, or authorization assertions, thus allowing for increased efficiency in the review of KYC files and identifying issues and trends early in the process.
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Credits
1 ACAMS Credit
**Please note that ACAMS credit for this virtual event is available to members of the Chapter only.