By Robert L. Mainardi
"In order to make sure that the constitution surrounding the operational setting is sound, auditors and controllers want assistance on how you can take non-stop auditing from thought to truth. Drawing at the author's 20 years of auditing adventure, this e-book is a 'how to' for development, advertising and marketing, and handling a continual auditing technique for corporations. It presents step by step guide relating to non-stop auditing ambitions, a instruction manual for execution, and counsel for reaching higher SOX paintings. utilizing documented, confirmed strategies, non-stop Auditing is a necessary textual content for these fascinated with regulating monetary information"-- learn more... Preface -- Acknowledgments -- 1. Defining non-stop Auditing -- 2. the place to start -- three. non-stop Auditing technique improvement -- four. getting ready for a continuing Audit -- five. non-stop Auditing: origin section -- 6. non-stop Auditing: method section -- 7. non-stop Auditing: Execution part -- eight. Root reason research -- nine. non-stop Auditing Reporting and subsequent Steps -- 10. motion Plans -- eleven. non-stop Auditing stipulations -- 12. promoting non-stop Auditing -- thirteen. non-stop Auditing demanding situations -- 14. non-stop Auditing makes use of and clients -- 15. non-stop Auditing classes discovered -- APPENDIX: non-stop Auditing counsel -- concerning the writer -- Index
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Additional info for Harnessing the Power of Continuous Auditing: Developing and Implementing a Practical Methodology (Wiley Corporate F&A)
Nothing is a more powerful tool for an auditor than business knowledge. If auditors focus on developing and maintaining their business knowledge, they will become much more efficient and effective at objectively analyzing the process and identifying the corresponding risks. Once auditors develop a solid working knowledge of the business area, they will be able to strategically dissect the process and create targeted programs to 34 C04 11/24/2010 9:2:50 Page 35 Developing Business Knowledge & 35 validate the control environment.
3. 4. 5. 6. 7. Independent research Previous audit activity and results External examinations and results Action items Walk-throughs Process map SIPOC Independent Research Where does someone go to find out information about anything? It used to be the library, where you would spend hours upon hours looking through card catalogs to identify a topic close to the one you were searching for, only to be directed to a particular section in the building. Upon arriving in the specified section, you remained hopeful that the particular book, magazine, or periodical you needed was on the shelf.
Continuous auditing is going to require an auditor to examine a process, consider all controls in place from start to finish, select the critical control(s), and test the specific performance of the selected control on a recurring basis. Supporting or ancillary controls involved in the process are ignored. This is the most difficult concept for auditors to accept since they are accustomed to testing all controls in a process as part of a regular, or full-scope, audit. To determine whether continuous auditing is a methodology that could help your team, review the next five questions.
Harnessing the Power of Continuous Auditing: Developing and Implementing a Practical Methodology (Wiley Corporate F&A) by Robert L. Mainardi