Continuous Auditing and Monitoring
Elevate your internal audit function with the Continuous Auditing and Monitoring CPE Training Event, a comprehensive learning experience for audit managers, compliance officers, CFOs, and other professionals responsible for safeguarding organizational controls and mitigating risks. This seminar offers insights, tools, and best practices to design and implement a customized continuous auditing program—ensuring your company stays ahead in a rapidly evolving landscape. Earn 4 NASBA-Approved CPE credits while revolutionizing your audit approach with cutting-edge knowledge and techniques.
Why Attend?
Master Continuous Auditing Methodologies
Learn the fundamentals of continuous auditing and monitoring, transitioning from periodic reviews to real-time control assessments.
Leverage Technology to Enhance Audit Efficiency
Explore advanced auditing tools like IDEA, ACL, and Approva, and see how technology can transform your audit processes.
Identify and Reduce Risks Proactively
Gain practical knowledge on spotting anomalies, improving internal control management, and addressing fraud risks effectively.
Earn 4 CPE Credits
Improve your professional credentials with valuable credits as you gain actionable skills to enhance your internal audit function.
What You’ll Learn
This interactive, four-hour seminar covers vital topics to prepare you for implementing and improving continuous auditing processes.
1. Continuous Auditing Fundamentals
- Definitions and key concepts of continuous monitoring (CM) and continuous auditing (CA).
- The "Inverse Relationship" and how it ensures proactive management of risks.
2. Audit Strategy Design and Execution
- Steps to successfully design a continuous auditing program, including defining objectives and identifying risks, controls, and audit tests.
- Techniques for establishing data requirements and piloting, refining, and managing results.
3. Advanced Applications and Case Studies
- Best practices for using continuous auditing to comply with the Sarbanes-Oxley Act.
- Implementing campaigns for IT compliance and financial control, including fraud detection and prevention.
- Real-world examples of monitoring financial data, IT systems administration, and disbursement fraud.
4. Automating Audit Processes
- Comparative insights on leading audit software options like IDEA and ACL.
- Build vs. buy decision-making framework for audit technology solutions.
5. Managing Modern Risks and Compliance Needs
- Application of continuous monitoring systems for dynamic regulatory changes, operational efficiency, and fraud mitigation.
6. Real-Time Risk Mitigation Techniques
- How continuous auditing tools streamline processes for ICFR compliance under SOX.
- The growing role of technology in securing financial systems, IT operations, and vendor management.
Seminar Highlights
- Interactive Training: Hands-on exercises and discussions tailored to real-world scenarios.
- Practical Case Studies: Gain actionable strategies to tackle challenges from various industries.
- Expert Insights: Learn from seasoned professionals with decades of experience in internal controls and auditing.
Event Details
- Format: Virtual, group internet-based training.
- Schedule: Runs every eight weeks, Fridays from 10 a.m. to 2:30 p.m. Central Time.
- Duration: 4 Hours
- Cost: $280 per participant.
- Private Sessions: Tailored sessions available for groups of two or more attendees.
Who Should Attend?
This course is designed for professionals who play a key role in maintaining robust internal controls and risk management, including:
- Internal Audit Managers: Enhance audit quality and efficiency while leveraging advanced technology.
- Compliance Officers: Gain deeper insights into continuous monitoring frameworks for regulatory adherence.
- Chief Financial Officers (CFOs): Strengthen financial control processes to mitigate fraud and operational risks.
- Controllers and Risk Managers: Develop integrated programs to reduce risks and streamline processes.
Why Continuous Auditing and Technology Matter
Continuous auditing changes the internal audit paradigm, enabling real-time analysis of large volumes of transactional data. This shift reduces dependence on sample-based periodic reviews and prepares organizations to respond proactively to risks and compliance requirements.
At its core, continuous auditing empowers organizations to maximize control effectiveness, enhance efficiency, and build resilience in an era of increasing regulatory complexity. This course equips attendees with the skills to harness cutting-edge tools and techniques, fostering trust and transparency across their organizations.
Register Today
Don’t miss the chance to revolutionize your audit processes with the Continuous Auditing and Monitoring CPE Training Event. Gain confidence in designing, implementing, and maintaining robust auditing systems supported by leading technologies. Earn 4 CPE credits as you build expertise in navigating modern risk and compliance challenges.
Sign up now to create value within your internal audit function and drive your organization toward more effective risk management and regulatory excellence!
Details on Event Presentation
Offered every eight weeks on Fridays at 10:00 a.m. to 2:30 p.m. Central Time in four CPE-Credit event.
We can schedule private events on your timetable for two or more attendees.
CPE Event Highlights
This CPE event reviews and answers the following questions:
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Continuous Auditing Methodology Defined
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Best Practices in the Internal Audit Function
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Steps to implement a continuous auditing program
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Value of continuous auditing and monitoring
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Application to Sarbanes-Oxley testing
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Review of automated audit tools: IDEA, ACL, Approva, etc.
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Learning Objectives
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Attendees will understand the continuous auditing concepts
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Attendees will see how to improve inter-period controls monitoring
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Attendees will learn how to use a continuous auditing approach
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Attendees will improve cost-effectiveness of their internal audit function
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Key Issues on the Agenda
Introductions
Section 1 - Introduction and Definitions-
Do you use personal continuous auditing & monitoring?
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What is Continuous Monitoring (CM)?
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What is Continuous Auditing (CA)?
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What is assurance?
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What is continuous assurance?
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"The Inverse Relationship"
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COSO 2013 - Seventeen Integrated Principles
Section 2 - Client Examples of CAM Systems-
Monitoring a financial database
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Monitoring a fleet
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Banking regulatory reporting
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Retail dashboards
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IT security administration
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Disbursement fraud
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Call Center operations
Section 3 - Software Market Leaders-
Traditional approach to auditing
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Benefits of a CAM program
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Auditor tools
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Substantive testing
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Internal Control testing
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Challenges and other considerations
Section 4 - Evaluating the "Build" or "Buy" Decision-
If we build it we own it
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General Audit software
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Buy criteria
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Substantive testing
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Internal Control testing
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Challenges and other considerations
Section 5 - Designing the Continuous Auditing Program-
Culture and politics
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Are you ready for continuous auditing? - Challenges of implementation
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Define the objectives
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Project management techniques
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Identity risks, controls and audit tests
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Establish data use requirements
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Pilot the system
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Refine the system
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Report and "manage" results
Section 6 - Implementing Continuous Auditing for Sarbanes-Oxley Act Compliance-
Sarbanes-Oxley Act
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SEC focus on "ICFR"
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SOX Guidance
Section 7 - Implementing Continuous Auditing for Information Technology-
Access security
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Development, change, and implementation
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Operations, backup, restoration and recovery
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IT vendor management
Section 8 - Implementing Continuous Auditing for Financial Control and Fraud-
Occupational Fraud
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Areas of Fraud
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Excluded parties listings
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Financial transactions and fraud
Section 9 - Case Study Example-
IDEA and Monitor
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Usage Examples
Section 10 - Summary and Wrap-up-
NASBA Program Disclosure
Program Level of Understanding: Basic
Prerequisites: None
Advance Preparation: None
Delivery Format: Group Internet Based
NASBA Field(s) of Study: Auditing CPE Credits: 4, based on 50 minutes of instruction per hour
Summary of the Subject Matter
This CPE event "Continuous Auditing and Monitoring" delves into the pivotal role of technology in transforming traditional audit practices.
This comprehensive seminar offers a deep dive into the evolution of audit methodologies, emphasizing the integration of automated tools and monitoring systems to enhance audit efficiency, accuracy, and risk mitigation. By exploring the dynamic landscape of continuous auditing, the event seeks to equip professionals with the knowledge and skills required to leverage technology for real-time data analysis, anomaly detection, and proactive risk management.
Furthermore, the seminar sheds light on best practices for implementing and maintaining a robust continuous auditing framework, enabling attendees to harness the power of technology to elevate audit quality, streamline processes, and adapt to the evolving regulatory landscape.