Continuous Auditing and Monitoring

What Will You Learn?

• Day 1: Introduction to Continuous Auditing
• Overview of continuous auditing: principles, benefits, and challenges.
• Differences between traditional auditing and continuous auditing.
• The role of real-time monitoring and its impact on organizational performance.
• Group Discussion: Exploring the advantages and limitations of continuous auditing.
• Day 2: Tools and Techniques for Continuous Auditing
• Introduction to the tools and technologies that enable continuous auditing, including data analytics, AI, and blockchain.
• Understanding automated controls, data extraction, and monitoring systems.
• Best practices for integrating audit software and ERP systems with continuous auditing frameworks.
• Hands-On Exercise: Setting up an automated auditing tool for continuous monitoring.
• Day 3: Continuous Monitoring of Financial and Operational Processes
• Monitoring financial transactions and operations in real time.
• Techniques for identifying fraud, errors, and inefficiencies using continuous monitoring.
• Assessing internal controls and understanding their continuous assessment in audits.
• Workshop: Creating a real-time monitoring dashboard for auditing key financial processes.
• Day 4: Data Analytics in Continuous Auditing
• Leveraging data analytics to enhance continuous auditing capabilities.
• Techniques for performing statistical analysis and trend analysis on audit data.
• Using predictive analytics to foresee potential risks and identify weaknesses in systems.
• Case Study: Analyzing an organization's audit data using analytics tools to identify trends and anomalies.
• Day 5: Reporting and Follow-up in Continuous Auditing
• Reporting real-time findings from continuous audits: best practices and formats.
• Communicating results to stakeholders and ensuring timely action on audit findings.
• Understanding the importance of follow-up audits and ongoing monitoring for sustained improvements.
• Final Project: Presenting a continuous audit plan and demonstrating how real-time data can be used to improve business processes.