Finance and Accounting Research Paper: Continuous Auditing

Finance and Accounting Research Paper: Continuous Auditing Research Paper example
Research Paper
Finance & Accounting
Pages 15 (3765 words)
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Name: Institution: Course: Instructor: Date: CONTINUOUS AUDITING Introduction Continuous auditing may be defined as an automatic method that is applied in the performance of control and risk assessment in a regular basis (Basu 56). The use of technology plays an increasingly fundamental role in conducting this exercise since it requires automation which is only possible with the constant and continuous use of the modern information and communication systems.


It ensures that the control systems, internal to the organization are effectively functioning. It works very strongly to reduce elements of fraud, wastes and errors that are likely to occur in the conduct of the day-to-day business activities (Hayes 67-9). It offers an almost real time capability of checking and sharing the financial information in an organization. Continuous auditing indicates clearly that the integrity of information in an organization can be evaluated at any given time successfully. It also ensures that information is constantly verified in a regular basis to ensure that this information is efficient and free of any error or fraud. This type of auditing survives as the most detailed of all the other types that are in place and organizations have recognized, acknowledge, understood and appreciated its increasingly significant place in auditing (Lerner and Cashin 333). A Brief History of Continuous Auditing Continuous auditing finds its root from AT&T Bell Laboratories way back in the year 1089. At the time, a system known as Continuous Process Auditing System was developed. ...
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