tailieunhanh - Harnessing the Power of Continuous Auditing_5

Tham khảo tài liệu 'harnessing the power of continuous auditing_5', tài chính - ngân hàng, kế toán - kiểm toán phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | Exception Identification 105 The other temptation that arises as much if not more than additions to the program is to stop performing the continuous auditing testing after the first couple of months because no reportable items have been identified during the testing. The continuous auditing methodology has been designed to examine the effectiveness and efficiency of controls over a period of time at a specific set frequency. This approach must be performed for the designated period of time for the methodology to be effective. Stopping the testing after a couple of months does not provide sufficient evidence to the responsible auditors that the selected control s are producing repeatable reliable results. Stopping testing short of the agreed frequency and time period only proves that for the two or three samples selected no reportable items were noted. Auditors who believe that after a couple of months they understand the business control environment and can make a conclusion based on the results gathered to date are mistaken. If the continuous auditing methodology is not fully executed as designed in the methodology requirements it cannot be used as a predictive audit tool and does not really provide any additional assurances to the business unit that its control structure is well designed implemented and operating as intended for the control s selected during the continuous auditing foundation phase. The key to ensuring that the performance component of the continuous auditing execution phase is effective is to have confidence in the other phases of the methodology foundation and approach . With the focus application of this methodology it will provide a proactive evaluation of the selected control s while at the same time delivering audit-tested data to support the conclusion of the effectiveness and efficiency of the control environment. The control environment represents the required steps developed by management to facilitate the execution of the business .