Harnessing the Power of Continuous Auditing
Developing and Implementing a Practical Methodology
Published on 21. January 2011
304 pages
978-1-118-00700-6 (ISBN)
Description
Written to help auditors jump start their organization's nearreal-time financial data monitoring and sharing capabilities,Harnessing the Power of Continuous Auditing provides step-by-stepinstruction on how to build, market, implement, and manage asuccessful continuous auditing program.
Taking concept to reality, author and internal audit expert RobertL. Mainardi presents auditors, company executives, business unitmanagers, practitioners, and consultants with a complete road mapto continuous auditing, from start to finish. Beginning with athorough definition of the subject, Mainardi debunks the variousmyths surrounding the process?including the most commonmisperception that the internal audit department must have thecorresponding automated technology to support it?and includesnumerous documented proven techniques and instructions for moreeffective SOX work.
A vital tool to enhance the auditor's skills and abilities,Harnessing the Power of Continuous Auditing's exhaustive coverageincludes:
* The definition of continuous auditing
* Where to begin
* Methodology development
* Preparing for continuous auditing
* Root cause analysis
* Action plans
* Problem-solving tools
* Lessons learned
* Selling continuous auditing
* Conditions and challenges
This all-in-one handbook of practical execution providesmuch-needed, accessible guidance on everything businessprofessionals need to know to conduct and implement a successfulcontinuous audit in their organizations.
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Robert L. Mainardi
Harnessing the Power of Continuous Auditing
Developing and Implementing a Practical Methodology
Book
03/2011
Wiley
€81.90
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Person
ROBERT L. MAINARDI is President of Mainardi & Associates, a firm that creates, develops, facilitates, and administers custom training programs in auditing and risk; evaluates, creates, and implements formal audit methodologies; and consults on critical projects. Prior to forming his own firm, he was a vice president with the Penn Mutual Life Insurance Company. He has written over thirty-five courses focused on continuing education for professionals in the audit, operational risk and control, and accounting fields. He is also a Distinguished Faculty Member for the Institute of Internal Auditors and a featured speaker for the MIS Training Institute.
Content
Preface.
Acknowledgments.
Chapter 1: Defining Continuous Auditing.
The Real Definition.
Differentiating Continuous Auditing.
Segregating Continuous Auditing and Control Testing.
Continuous Auditing Objectives.
Dispelling the Continuous Auditing Myths.
Summary.
Chapter 2: Where to Begin.
Recognize the Need.
Potential Need/Fit Considerations.
Client Relationship Score.
Summary.
Chapter 3: Continuous Auditing MethodologyDevelopment.
Continuous Audit Methodology.
Methodology Requirements.
Summary.
Chapter 4: Preparing for a Continuous Audit.
Building the Business Knowledge.
Developing Business Knowledge.
Understanding the Rules.
Identifying Technology.
Summary.
Chapter 5: Continuous Auditing: Foundation Phase.
Target Area.
Testing Objectives.
Frequency.
Testing Technique.
Summary.
Chapter 6: Continuous Auditing: Approach Phase.
Approach Phase.
Scope.
Volumes.
Sampling.
Criteria and Attributes.
Technology.
Summary.
Chapter 7: Continuous Auditing: Execution Phase.
Execution Phase.
Performance.
Exception Identification.
Summarizing Results.
Summary.
Chapter 8: Root Cause Analysis.
Root Cause.
Root Cause Defined.
Team Understanding.
Do I Need to Find Root Cause?
Root Cause "Why" Approach.
Root Cause Keys.
Summary.
Chapter 9: Continuous Auditing Reporting and NextSteps.
Reporting and Next Steps.
Reporting Options.
Advantages and Disadvantages of Report Type.
Reporting Options Summary.
Five-Component Approach.
Next Steps.
Summary.
Chapter 10: Action Plans.
Action Plans.
Addressing Root Cause.
Creating the Perfect Action.
Components of Real Action Plan.
Action Plan Tracking.
Summary.
Chapter 11: Continuous Auditing Conditions.
Conditions.
Business Unit Management Conditions.
Internal Audit Conditions.
Technology Conditions.
Summary.
Chapter 12: Selling Continuous Auditing.
Selling.
Business Unit Management.
Audit Team.
External Clients.
Summary.
Chapter 13: Continuous Auditing Challenges.
Challenges.
Internal Audit Department.
Client.
Summary.
Chapter 14: Continuous Auditing Uses and Users.
Uses and Users.
Uses.
Users.
Summary.
Chapter 15: Continuous Auditing Lessons Learned.
Lessons Learned.
Developing Technique.
Effective Concept.
Lessons Learned Template.
Summary.
Appendix: Continuous Auditing Guidance.
About the Author.
Index.
