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Continuous Auditing and Monitoring

Continuous Auditing and Monitoring

The more continuous monitoring that is accomplished, the more the risks are reduced. Continuous monitoring and auditing involves performing control and risk assessments on a frequent basis, if not virtually in real-time. As technology has improved there has been an increased adoption of continuous auditing as a vital monitoring tool.


This seminar walks through the process of continuous auditing from start to finish and prepares you to create your own customized continuous audit program. It provides unique training on how to design, implement and improve a continuous auditing and monitoring approach for auditors. We present examples from our clients and specific controls to establish for monitoring on a regular basis.


This continuous approach provides a more timely assessment of the operation of internal controls. Continuous auditing has changed the internal auditing paradigm from periodic reviews of a small sample of transactions to ongoing audit testing of volumes of transactions. This CPE seminar focuses on identifying what must be done to make effective use of information technology in support of continuous auditing.


This timely, four hour CPE seminar is designed for internal audit management, compliance managers, controllers, CFO's and others who have to create value within the internal audit function.


Each attendee will receive 4 Auditing CPE Hours (YB). A certificate of completion will be provided.

  • Details on Event Presentation

    Being offered twice a quarter on Fridays at 10:00 a.m. to 2:30 p.m. Central Time. There will be a lunch break from 12:00 noon to 12:30 p.m. 

    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:

    • Continuous Auditing Methodology Defined

    • Best Practices in the Internal Audit Function

    • Steps to implement a continuous auditing program

    • Value of continuous auditing and monitoring

    • Application to Sarbanes-Oxley testing

    • Review of automated audit tools: IDEA, ACL, Approva, etc.

  • Learning Objectives

    • Attendees will understand the continuous auditing concepts

    • Attendees will see how to improve inter-period controls monitoring

    • Attendees will learn how to use a continuous auditing approach

    • Attendees will improve cost-effectiveness of their internal audit function

  • Key Issues on the Agenda


    Section 1 - Introduction and Definitions

    • Do you use personal continuous auditing & monitoring?

    • What is Continuous Monitoring (CM)?

    • What is Continuous Auditing (CA)?

    • What is assurance?

    • What is continuous assurance?

    • "The Inverse Relationship"

    • COSO 2013 - Seventeen Integrated Principles

    Section 2 - Client Examples of CAM Systems

    • Monitoring a financial database

    • Monitoring a fleet

    • Banking regulatory reporting

    • Retail dashboards

    • IT security administration

    • Disbursement fraud

    • Call Center operations

    Section 3 - Software Market Leaders

    • Traditional approach to auditing

    • Benefits of a CAM program

    • Auditor tools

    • Substantive testing

    • Internal Control testing

    • Challenges and other considerations

    Section 4 - Evaluating the "Build" or "Buy" Decision

    • If we build it we own it

    • General Audit software

    • Buy criteria

    • Substantive testing

    • Internal Control testing

    • Challenges and other considerations

    Section 5 - Designing the Continuous Auditing Program

    • Culture and politics

    • Are you ready for continuous auditing? - Challenges of implementation

    • Define the objectives

    • Project management techniques

    • Identity risks, controls and audit tests

    • Establish data use requirements

    • Pilot the system

    • Refine the system

    • Report and "manage" results

    Section 6 - Implementing Continuous Auditing for Sarbanes-Oxley Act Compliance

    • Sarbanes-Oxley Act

    • SEC focus on "ICFR"

    • SOX Guidance

    Section 7 - Implementing Continuous Auditing for Information Technology

    • Access security

    • Development, change, and implementation

    • Operations, backup, restoration and recovery

    • IT vendor management

    Section 8 - Implementing Continuous Auditing for Financial Control and Fraud

    • Occupational Fraud

    • Areas of Fraud

    • Excluded parties listings

    • Financial transactions and fraud

    Section 9 - Case Study Example

    • IDEA and Monitor

    • 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

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